Your system is a Y plan , unfortunately, which makes fault finding more difficult, and I'm also unfamiliar with your model of valve, in spite of having been installing heating systems for 40 years.
Y plan is more complicated because the boiler is only sometimes operated by the valve's switch, whereas with S plan it is always operated by the valves' microswitch.
A further complication is if you have a boiler which has frost protection. An externally positioned (to the boiler and airing cupboard) thermostat then fires up the boiler in cold weather, and, of course, this can become faulty.
Getting back to your original question, yes, a faulty microswitch in the valve can cause what you describe. It's happening with my own heating system at the moment. About every two weeks or so, we find the towel rails in the house to be permanently hot, and although the valves are closed (towel rails don't go through valves), the pump and boiler are on. Thumping the hot water 2 port valve provides a cure for the next couple of weeks.