A,
The check valve on the spa return line allows water to flow to the spa when in the spa mode. It could also allow a little water to go the spa in the pool mode if you have a spillover spa. It is there to prevent any water from the spa to flow backwards through the check valve and then back in the pool.
As a test, you can take the manual valve that is between the Pool Return label and the Spa return label and shut off the pipe labeled Spa return. This should shut off your spillover. If the spa does not drain down with the Spa return pipe shut off, you know the problem has to be the check valve.
As a side note you much have a lot of water spilling over into your pool. Generally, this valve is set about 90% pool return open and only 10% spa return open.
Thanks,
Jim R.