I´m facing the same issue... High battery comsumption, all sensors disabled... I bought my watch abroad (USA), bur Samsung Brazil denying service, claiming that the product was produced in another country and has no technical conditions to solve the matter. Totally disapointed with Samsung... They are striving hard to lose a loyal customer!
i hope this works for the classic model too... my sensors stopped working all of a sudden and after looking at all these posts, i too realised that the sensorhub selftest on my watch says FAIL too.
im trying your method now, lets see what happens
I love Samsung. Every time, after each update, they make us troubleshoot our devices..... "we need to turn off, reset, format, restart, clean, 3 jumps, run, intall watch again, restart phone, reset again"....i think, in one year with my S3, I had to reset, at least, 04 times...every time is the same problem...