Fan speed does not reduce after temps fall below threshold
As per your default .ini spec - fans come on only at 60 C. Fans run just enough to keep temps below 70 C when I run a stress test. However, after temps drop below 60 C, fans don't stop, even now at 38 C. Confirmed I'm in your default Smart Mode. Odd because app windows reports it did set fan control to 0x00 (screenshot). I definitely hear the fan (could be just one). Is it possible the app is only controlling one of the two fans?

What device is this on? Also, make sure you don't have other versions of TPFC running in the background.
ThinkPad X1 Extreme Gen 2.
Definitely only one instance of "fancontrol.exe" running on the machine. (And only one exists on the drive.)