The Glycol Chiller target temperature is the target for the glycol cooling inside the chiller. This needs to be set to -4 °C (24.8°F). When the glycol is signalled to pump cold glycol to the fermenter, the glycol temperature inside the chiller will increase as it moves through the sleeve of the fermenter. Then it goes back into the chiller as it's been warmed up by the wort inside the fermenter. This is normal and once the glycol inside the chiller gets to warm, the compressor will kick in to cool it down again.
The Conical Fermenter is the controller for the fermentation temperatures. You set your target temperature on the control box, then when it gets too warm, this will send a signal to the Glycol Chiller to send cold glycol to cool it down. Alternatively, if the fermenter gets too cool, it will signal for the built-in heat stick to heat up until it reaches the target temperature again. This means you can have up to 4 Conical Fermenters working at once on different fermentation temperatures. So for example, you can have one fermenter crash cooling at 4°C (39.2°F), then another set to 25°C (77°F).