The book says for a system reset: "Turn key on and quickly press and hold "ON/OFF" and "Menu" together for about 5 seconds until the display reads SYSTEM RESET >=YES. Hit "YES" and it will say "WAKEBOARD ONLY >= YES" Hit "YES". The right arrow should be up arrow, couldn't find an up arrow on my keyboard.
Let us know if it works.
If that fails, you could pull the chip. It is inside the control module. If you do, just make sure to record your hours because it will erase everything and you will have the opportunity to re-enter the hours when it starts up.