First check the battery as it may be down. They come with a battery which has been in there for a long time. Second the company will warranty the product as long as you didn't buy it a year ago or longer or bought it used. Got mine two days ago accidentally dropped the display unit in water , dried it out and next day running 100%. Went to the range saved 12 shots and came home to review them ; 100% working. Going there tomorrow again. Very Happy ! One thing I did was place a small piece of velcro (female side) on the area the nylon strap touches the barrel as people had trouble with the Magnedo sliding on stainless steel barrels and mine fit well and stayed 100% in place. These chronographs in my books are100% I've owned Mercedes Benz over the past 15 years and everyone had little problems but nothing that could be fixed. Machines are just that way.
I just started having a similar issue. I did not have the shutting off issue, just the bayonet error. I took a q-tip shaft (wood) and put it in the reader and spun it around - in an attempt to clean the contacts. Seemed to help. Their web site now has a $20 repair option. Will contact them to see what that service covers.