I was able to replace parts on the circuit board (P/N: 128301_timer_pcb) to fix this issue on my KCO253CU Kitchenaid Toaster Oven. R1 was visibly burned. On further troubleshooting, ZD2 was found to be shorted.
Known Failed Parts Replaced:
R1: 47 Ohm 2 Watt resistor
ZD2: 47V Zener Diode
Other Parts Replaced
C1: 1.5 uF 400 Volt Film Capacitor
ZD1: 5.1 V Zener Diode, tested OK but replaced anyway.
See attached photo of circuit board for component part numbers.
John W.