Depends on which battery you are talking about, The Chronos actually has two.
The Rechargeable one, which i assume everyone would know about, and an Internal one which is not Rechargeable, that one is sitting Inside the Camera Housing on the Lens-Side of the Mainboard on the Bottom next to the IO-Ports.
Not 100% certain of what that Battery is doing, but if it works any bit like a normal Computer, that little Battery is Likely responsible for keeping Time on an Clock, so the Thing Knows the Correct current Time and Date and takes care of some basic Settings not getting lost.
So in your Case, it sounds a lot like that Battery Inside there on the Mainboard might have died. At least that would be where i would start looking, if i had that Problem you described. Though i really dont know if the Camera can loose recently Changed Settings from loss of Power, if the Internal Battery is still working fine. Pretty sure loss of Power happened to me more than once on that camera, but can not recall it loosing any Settings or fully Resetting anything (I have my UI on the Left side, and i really dislike having it on the Right, so its very noticeable if it had done so). I think the most telling Fact would be, if the Camera looses Time and Date Settings, that would be a very Clear Pointer to that Little Internal Battery.
Not really Hard to replace/ check yourself, but if you are not comfortable, i am Pretty sure Krontech would also be able to replace it for you.
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See Image for Location of the Internal Battery.