555 were used on some designs. I doubt its used here because of the neutral positions. More likely its a microcontroller given the label. If it is that chip you will be pretty much out of luck doing a component level repair. You could verify if its that chip if you have and identical board. It appears to be in a socket so just swap them out.
If you have to replace the boards I'd suggest one from a Williams engine. The relay design is much more bulletproof than the transistor or triac types.
Pete
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