Unless you have a wiring diagram, disregard what I wrote earlier about fabricating something up quickly. My response was a little hasty, and @Aciera posted that great link while I was still writing my response.
The thread @Aciera linked to shows some photos of the assembly without the potting compound, and yes - there are a bunch of other components under there that weren't obvious from your pic.
The big burned spot at the lower left of your board appears to be the same component (same location) that blew up on JT's (I think) board years ago.
As Tommy pointed out, those look like 4-pin hall sensors, and the other post indicated they were halls, too. But I suspect that your sensors - reed or hall - aren't the problem. Or aren't the only problem.
Potting compounds can be a pain, but I'd try heating it with a heat gun to see if it softens then start picking it off. MEK and xylene can also dissolve some potting compounds. If you can get to the burned component and replace it it may work without having to strip the whole board.
Regarding the magnet, read the other thread. It looks like there's a post with a magnet on it - not embedded in the underside of the turret plate like I first suspected. The magnet appears not to be keyed to the shaft, so it's possible to adjust the trigger point. The other thread had a post where the author advanced the magnet a bit to tweak the sensing time in relation to the locking mechanism teeth.
Fundamentally, you could fabricate your own sensor but you need to know what signals the controller expects to see. 5V? 0V? 24V? Sinking or sourcing? i.e. you need a wiring diagram of some sort.