I'd be very surprised if it didn't have overtemp protection.
Thermoelectric coolers are vulnerable to runaway if the heat sinking is
inadequate--at some current the sign of the loop gain changes, so that
turning the current up further makes the cold plate get hotter rather
than colder.
Once that happens, you have to turn the TEC off to keep it from turning
to lava.
Cheers
Phil Hobbs
(Who's designing a similar sort of gizmo as we speak.)
--
Dr Philip C D Hobbs
Principal Consultant
ElectroOptical Innovations LLC / Hobbs ElectroOptics
Optics, Electro-optics, Photonics, Analog Electronics
Briarcliff Manor NY 10510
http://electrooptical.net
http://hobbs-eo.com