You also might want to check the sensor wires. Those are the 6 or 7 little tiny wires that come from the motor to the white wiring harness in the speed control. One might be coming loose. Novak even admits this happens from time to time in the instruction manual. Also make sure the solder points are solid and fully attached. Also, check the screws on the motor can. There should be three on the end of the motor with the wires. Make sure they're snug. Don't over tighten them, or they might strip inside.
There are only a few things to replace in the motor. The bearings, endbell, and replacement rotor. They're fairly inexpensive, $12 for the endbell and bearings, and $20 for the replacement rotor. I would contact Novak before buying those parts, though, especially if it still less than a year old.
If all else fails, do what Platinum said regarding warranty status and repair.
Oh, yeah, one last thing. if you haven't tried yet, try resetting it back to factory settings. The instruction manual says how to do it. I think you have turn everything off, then press and hold the setup button while you turn on your car and radio. Set your throttle, nuetral, and brake. At that point it should be set back to factory, out of the box, settings. It should be set to profile 1 with no other settigns turned on like drag brake. The only light that should be on is the red light.
I hope this information gets you somewhere closer to a resolution.