Constantly sinning since childhood -
The weights on the spring are not there for fun I suspect...
As the motor rotates they will move - I can't see your machine but can imagine fast running motor (and weights) bending the spring mounting a little more than a slow running motor. I can imagine the control board being hinged and moving relative to the weights. I see in my mind the contact being broken and power to the motor being cut off - the motor slows and the weights move in and the spring moves down and the contact is re-made and the motor speeds up again. I can imagine the control board being dropped for slow and raised for high speed.
The speed of rotation is controlled by the height of the control board relative to the weights at rest. When the motor is stopped the contact should be made throughout the complete operation of the speed control.
Your control board appears to be having no control over the motor speed - a component has failed i suspect.
Of course all this may just be a bad dream on my part - but it's an interesting fault to consider. yet another sin to my account. And it was 30+ years ago 77 - 78 that sort of time.
Continuing good luck...
Peccavi
December 2009