The second hand on my luminox 8150 does not reset to 12 o'clock

Follow the instructions on the following link. I believe it works on all or most Swiss quartz chronographs. Worked like a charm for my Mondaine and my Zodiac. Hope it works for you too.
http://mondainewatch.co.uk/my-chronometer-doesnt-go-to-zero.html

Take closer look and you will notice the small seconds hand which should be working. The dig seconds hand actually is chronometer hand and will work only when the chronometer function is engaged. Push the top button once=chronometer will start. Push the top button once more=chronometer will stop. Push the bottom button once=chronometer will return to zero. Rate me, please.

The small seconds hand do not stop because it has nothing to do with chronometer. It is ordinary seconds counter and will move independent of chronometer.Click on my profile (escapement), then click on Tips and Tricks. There you will find link to Tag Heuer watch manuals. It might lelp you. Rate me, please

to zero out the second hand pull the stem out to either the first or second position and then use the top and bottom butttons to zero it out. please rate my solution

http://www.quorumtime.biz/pdf/Chrono_Alarm_Ronda.pdf

heres the pdf manual for this model...go to 'Adjusting the chronograph hands to zero position' and follow the instructions there..:)

Assuming you want to reset the zero posistion of the chronometer (stop watch) hands...

On my watch I can adjust it by doing the following...

To reset the microseconds hand / top right
1) Pull the center knob full out (2 clicks)
2) Press the bottom push button to adjust the hand

To reset the seconds hand / middle
1) Pull the center knob a full out (2 clicks)
2) Press the top push button to adjust the hand

To reset the minutes hand / top left
1) Pull the center knob out half way (1 click)
2) Next press the bottom push button to adjust the hand.

Once all hands are reset, push the center knob back in fully...done

fake

If new, just take back and exchange it for another working one.

Pull crown out to position 2 [in between unscrewed (1) and pulled all the way out (3)].  Tap Button B (bottom) to reset by step back to zero.
Incidentally, Button A works Hours register in same manner for position 2.  You can similarly reset second and 1/10th with Buttons A and B, respectively, while in position 3.  Cheers! 

If you have your instruction manual it should tell you how to reset the chrono. i have the Luminox 8352 and it says to pull the crown out to the 3rd position. then press and hold both the start/stop and lap/reset buttons for a couple of seconds. you'll see the second hand rotate, then you can single click the start/stop button to manually move the second hand 1 second, or you can hold it and it will continue move for a longer period until time desired. if you need to adjust the other chrono hands, click the lap/reset button and then you can click the start/stop button again. repeat for the minute/hour chrono hand. when you're finished push the crown back in. it might work even though it's a different model, worth a shot? hope that helps. these are really great watches.