I was getting the coolant spigot failure alarm (code 196). After a lot of time fussing to figure out what was wrong, I determined that something was wrong with my PCOOL gear motor. There are four wires that go to the the PCOOL option. Two wires monitor a switch that closes every time a little cam toggles a switch and the other two wires output about either +10V or -10V to tell the gear motor which way to go. There is a home position switch that puts an extra 100 ohms in series with the gear motor when at the home position. I think this extra 100 ohms signals the I/O control board when the spigot is at the home position and maybe reduces the torques so it can't press too hard on the home switch.
OK so the PCOOL module is pretty simple and isn't too hard to disassemble. I took mine apart and manually applied + and - 10V to the gear motor to see if it would move. The gear motor draws about 300 mA so disconnect the gear motor wire and inject the + or - 10V directly to the motor to see if you can make it move. Do this only momentarily so that you don't jam the swing arm against the limits (or loosen the swing arm collar first). On mine I determined that my gear motor would only turn in one direction (the 12V motor brushes were broken). Haas wanted to exchange my entire PCOOL assembly for $650. The gear motor that I needed is MOLON CHM-1202-2 which you cannot get (easily) from Haas or from MOLON. I did find, however, that MOLON markets the exact same gear motor under the Dayton brand which is available from Grainger for about $65. The Dayton gear motor part number is 2L004.
If needed, here is a link to the replacement gear motor:
Gearmotor, 1.5rpm, 12vdc - Gearmotors - Gearmotors - Power Transmission : Grainger Industrial Supply
If your gear motor appears to be OK then, with the gear motor disconnected, check to see if the +/-10V signals are coming from the I/O board--these should be present at the pins where the gear motor was connected. You'll have to look with an oscilloscope because they only pulse for a short time. To make the pulses appear, disconnect the gear motor, reset the alarm an press the CLNT UP or DN buttons. I isolated my scope ground since I wasn't sure if either pin was grounded and didn't want to short the I/O board (expensive if damaged). I'm pretty sure you won't be able to see these pulses very well with a DVM--there only there for maybe a couple 100 milliseconds.
You can also check to make sure the home switch is working (use an ohm meter) and check also that the cam actuated switch is toggling as the cam moves by. It should make a clear clicking noise. You may have to bend the little switch arm up or down to make it actuate this switch properly. There is also a very small Allen screw that can do this but it's too hard to get to so I just gently bend the arm until I got smooth operation.
You may also have to power the machine down to force the "Power Up Restart" to do the homing algorithm.
Hope this helps. I also made a PCOOL wiring diagram if anybody needs it.
Tom