The Fan Controller in Action
The green light indicates that the controller is in manual mode. This means that the user can now use the dial at the far end to specify speed with the twist of a finger. This also gives you the first look at the blue LED's in action. This was taken with the fan controller set at its maximum speed allowed. Manual mode gives you full access to the 1000 to 2150 RPM range of the fan.
The controller is now in high (HI) as indicated by the red LED. This setting is set for 1000 to 2150RPM depending on the PWM control settings in the motherboard.
It's a bit tough to discern, but the LED is violet in this image indicating the medium (MED) setting. This setting is rated for RPM's in the 1000 to 1950 range.
And finally, the last setting of the group, the blue LED in this case which is designated the low (LO) speed setting. This time the RPM still start at 1000, but is capped at 1500.
This is what I meant when I said the controller was detachable. No it isn't wireless, although not a bad idea, the fan controller is tethered with the four wire extension. As per the instructions, when you do use this method, be sure to align the white wire as shown in the image. It will not function in the other direction.