If the Pilot flame is a Sharp Blue colour, which envelops the end of the Thermocouple, which should glow dull red, then yes, the Honeywell V4600C Gas Control is probably faulty. BE WARNED THIS SHOULD ONLY BE REPALCED BY AN RGI.
www.gassaferegister.co.uk will help you to find a RGI near you
www.elanar.co.uk, July 2009