The new BAC controllers are not Regen, but the older
regen controllers do not have an 'economy mode'
My guess is that you have a failed hall effect sensor
on the motor, and that is keeping the controller from
being able to sense the speed of the wheel, so it is
in the 'failure' mode where it can drive the wheel without
any feedback.
Double check your wiring, make sure the hall effect
sensor pins did not push out or bend over in the connector.