Progressive Dynamics 9260 possible issue

Hoping to solicit a bit of advice from the gurus here. I recently installed a PD 9260 and it seems to do a much better job charging my (2) Trojan T105 batteries. The only issue is, the converter itself seems to stay quite warm, even when in float mode. I expected it to act like this when charging, but it it normal to stay very warm to the touch when in float mode? This would indicate power usage constantly, which is a bit unexpected. I do have the pendant, which is off except for a blink every 10 seconds or so when in float.

Thanks for any advice you can give,