OK, the flashy lights is called 'digital display' (woohoo) in the USER MANUAL. Have you thought of looking in the USER MANUAL ?
I've actually found it ONLINE, here at \link{(vokera.co.uk} (click Linea 7 under standard condensing IIRC).
To be clear, for you, in the far North of Great Britain, "flashy lights" does not mean a red or green LED going "flash, flash" but a number readout, right ? From what I can tell in the USER MANUAL it displays the temp of the circuit you are adjusting. If you turn up the rad temp knob, and these numbers increase you are increasing the temp of your rad circuit ! The numbers refer to the temp of the water in the pipes serving, and running through, your rads.
"The variable hot water thermostat allows you to
set the temperature of the water to your hot wa-
ter taps between 37.5°C (min) and 65°C (max)."
"The variable heating thermostat allows you to set
the temperature of the water to your radiators be-
tween 40°C (min) and 80°C (max). switch off automatically."
If you're happy with your water temp, that's great. The heat will actually increase if you throttle back the flow (ie opening the tap only a little will typically yield hotter water as the flow through the boiler is so slow IYSWIM).
Re: lack of thermostat - I think whoever specced / designed your system simply decided to use a timer plug in module, and to adjust the heat output of the rads using TRVs on each one rather (or instead of or as well as) having a 'stat on the wall. I wouldn't have gone that route, but I am not s/he.
The TRVs on each rad do indeed control the temperature of each rad individually. When they are on 5 or 6 (ie max) they will allow as much of the (hot) water in the pipe through as possible. When they are on * or 1 or whatever, they will throttle it back (as necessary) to only keep the rad luke warm IYSWIM. By balancing all the rads just so, and by speccing the boiler correctly for your size of house / flat / castle / bungalow, the house will be more or less spot on. The thermostat in the hall would simply give you better control (so you could choose the CHANGE the house temp in the AM / PM / overnight / if no one's in / if you go on holiday etc. more easily.
hth and is clear.
Oh, and I don't know an AWFUL lot about boilers, but I do like to read the user manual and have a surf about boiler probs when I have them etc. so I guess I'm selft taught, and plus, as I mentioned, my dad is a big boiler geek.