First, make sure that it is not reporting secure because a small obstruction or too stiffly mounted strike is causing the Magnalock not to hold properly. This problem can be corrected by cleaning the surfaces of the magnet and strike or establishing proper play in the strike mounting.
Second, you can verify function of the Senstat feature as follows. Note that the core is separated into 3 sections from left to right. The Senstat output is created by the strike establishing electrical contact between the leftmost and rightmost core segments. With the lock powered, use a conductor to connect the two outside segments. If the Senstat reports secure then the strike plate is not making proper contact with the lock face. If using a conductor doesn't cause the lock to report secure, check to see if there is a broken Senstat wire. If not the lock must be returned to the factory for replacement.