The waxstat is easy to check-the cable operates an arm which has two positions, one for hot , one for cold, with a screw adjuster for each.Don't go buying a new one unless you have too!!!
When cold,the cable is tight and pulls the arm over against one screw adjuster, when the engine is hot the cable will feel slack and the arm will be against the other screw adjuster.
Make sure the cable is adjusted tight when its cold, and If its working properly, it will do the above, if not, then it won't- simple as that!!!
Set the revs by ear-like Anders says, so the engine doesn't shake when cold. Ignore the rev counter figure- they are a pointless acssessory on a diesel anyway-you can't over-rev it, the governor won't let you!!!
Its not like a petrol choke so even if its not working properly, it won't really matter.
Funnily enough, the one on my BX never seemed to make any difference to the revs, either, until I fitted overhauled injectors- then the effect was noticeable
