I've got no heat in the car either.
Could it be as simple as the bypass valve blocked? If I take that out and run it without one, will I run the risk of an exploding matrix after time?
yes and yes. its quicker and easier to try removing the bypass valve and see if you get heat, but like you say, you run the risk of the matrix failing. You could remove the valve and try cleaning it out, soaking it in WD40 or similar, maybe a cheap place to start!
Well my hoses on the engine side of the bypass valve are red hot, the the one on the matrix side are only a bit warm. I reckon that seems like a good place to start.