When the wafer heats up, it expands, and gets thicker. You turn the screw it is attached to to move the wafer closer to or farther from the switch. When the wafer is closer to the switch, it doesn't need to heat up / expand as much to click the switch and turn the heat off. When the wafer is farther from the switch, it needs to heat up / expand more before clicking the switch, so the incubator gets hotter.
If the temperature in the incubator ranges widely, like mine did, then you should get a new wafer. It has ether in it, which can escape after years, so it doesn't respond as quickly as it should.