I'm pretty sure there was a major change in design from mk2 to mk3 and then again to the mk4. Mk4 is compatible with AGM batteries like the Hawker Odyssey.
This, from the maker's website is the important bit:
"· Automatic cancellation of charging programme when mains power fails. On restoration of mains power the battery is automatically re-assessed and the charging programme appropriate to the battery status is immediately restarted." http://www.accumate.co.uk/it010003.htm
My mk1 does not reset itself if the power goes off and then comes back on. It just sits there munching away the power stored in the battery. I'm sure this is the root of the stories about early Optimates eating batteries.