Yes, Chris, the brakes are working fine.
After reading on here about the issues Chris had with the Alko electric brakes in his caravan, I thought maybe the lack of brakes on our caravan might be for the same reason. First thing i did was adjust the brakes up, they needed quite a bit of adjustment. But that made no difference.
So after reading about the apparently faulty magnets that were fitted to some Alko brake setups about 4-5 years ago, I went to Repco and purchased 4 replacement magnets. After fitting the first new magnet, I carried out a very unscientific experiment comparing the old and new magents lifting a 12 inch crescent spanner. The old magnet did lift it, but the new magnet was much better, I couldn't get the spanner of it without disconnecting the power. And the new one drew more amps than the old one.
So after fitting the 4 new magnets and re-adjusting the brakes again, the caravan brakes worked really well. In fact I had to adjust the maximum voltage at the brake controller right back to prevent wheel lockups.
So after a trip up the Coromandel last weekend I am much happier with the brake's performance. The magnets, faulty or not, are after all, a wear item like the brake shoes, and need replacing periodically.