I don't think so. The ECU will only control the fuel and the ignition. It does have a safe mode if anything to do with these two systems goes tits...it will shove in the fuel as a get you home measure. ie, if you have a lamnda probe and that goes pear shaped, the ECU will make sure the engine still runs.
You can reset the ECU by un plugging the blue water sensor with the engine running, then rev the engine quickley 3 times in succession above 3000 rpm, then reconnect. That may help but I think there may be another problem.