So, you have a Caldera spa by Watkins manufacturing. It uses an IQ2020 control system, just like a Hot Springs. It is not to old for anything, since they still use a variation of the same controls today. But they are proprietary controls and different from any others out there, so many places will not work on them because they don't know how (or maybe they know better

).
If it still doesn't heat post pics of the circuit board and equipment.
I aways recommend replacing both sensors at the same time.
The overheat is not in the spa, just the heater, and is likely to be a flow problem (water moving too slowly through the heater). This could be the filter or faulty sensors, but could also be the circulation pump, pressure switch, relay board, or main board.