Not that I know of. They are very simple devices, and I've had a few operating on and off over the past several years.
However, they do use a LOT of power and sometimes the switches, power sockets and wiring used to hook them up are not up to the task. I've seen a lot of peltier-type coolers and "refrigerators" with burned switches or undersized wiring.
I'd have thought they might be used to indicate "heating" and "cooling", but it appears not. Most of the devices I've seen have a means by which to reverse the polarity of the DC power going into the peltier, effectively swapping the "hot" and "cold" ends around.
If both lights are on and the unit is switchable between heating and cooling, perhaps it is a fault indication? If there is a switch to select between these modes, is it good? (If it had melted or failed from the load, the unit might fail to operate altogether.)
I was more surprised to see a switchmode power supply in there. Every peltier based device I have (new to old) has used a transformer-type supply.
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