I was able to remove the module, remove the red wire. I then soldered the two remaining wires together. I now have a one speed router that works just fine.
I have the same router. haden't used it for a number of years and it would not start. I removed the cap(two screws). Used a wire to bipass the control and the motor ran fine.Unplug router and remove the screws holding the wires from the switch to the speed control. Disconnect the wire from the motor to the speed control. Remove the two screws holding the speed control to the router. Remove the speed control,. snap out the control wheel. I first sprayed liquid wrench into the hole then replace the wheel. shake the control and turn the wheel back and forth a number of times. Remove the wheel and dump out the fluid. then spray contact cleaner in the hole and repeat the process a couple of times. Let the control dry over night.Then reassemble the router and try it. It worked for me. Good luck!
If the router operates, and at full power, you could use an aftermarket rheostat for controlling the router speed. Rockler hardware sells one, others retailers may as well.
If this is not an option, a tool repair person (one of those old-timers...the "handy" ones that can improvise repairs and take pride in doing it) may be able to provide an option to keep it working for you.
Hope this helps.
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