I wouldn't ditch it just yet, lifereef makes some pretty good stuff, but their ATOs I'm not terribly familiar with. From what it sounds like yours has been modified from original maybe?
Will you need a pump?
If ATO gravity fed reservoir, no, if it didn't come with a pump, yes. What else is plugged into that black box?
Thing that worries me is the apparent (so far via pics) lack of fail safes in place if something goes wrong with the mechanical float mechanism? ATOs need redundancy, with multiple failures having to happen at the same time to cause devastation, Tank crash, flooding, possible electrical fire etc etc.