Just to make sure we are on the same wavelength, On solid fuel, you require that stat to supply power to a pump when the temperature rises and when the fire dies down you want the stat to open. First thing I would do is just remove it from the pipe and let it cool down to ambient temperature, turn the setting knob to minimum, then very slowly turn it up until you hear a click and note the setting, turn it very slowly anticlickwise until you hear another click, if it doesn't click on/off in the range of say 6C/10C then you have a faulty stat, if it does switch between those limits then its either wired wrongly or the stove isn't moving the hot water through the pipe via convection, if it is wired correctly and the stat is OK then turning it up should stop the pump and turning it down should start the pump.
I have a spare EPH stat and it has three terminals a common C and a 1 & 2.
C&2 make on rising temperature and open on falling temp, correct terminals if used on solid fuel where you want the pump to start on rising temperature and stop on falling temperature. C&1 make on falling temperature, correct terminals if used say on a oil fired boiler where you want the burner to fire up on falling temperature and cut out on rising temperature