Could be a motorised value that isn't working fully but you'd need to check it out when the hot water is on itself and see if the heating pipes are still heating when its on itself.
Thats the beauty of TRV's you can turn them off as and what you want to heat to not.
It's more likely that it's functioning as the bypass and doesn't come on in the summer. Both the motorised valves have been replaced over the last 20 years so it's possible there was a summer when the valve was faulty which has made me think it's stays hot.
Could be a motorised value that isn't working fully but you'd need to check it out when the hot water is on itself and see if the heating pipes are still heating when its on itself.
Thats the beauty of TRV's you can turn them off as and what you want to heat to not.