How are you checking the exposure? Do you have a separate flash meter? If so, are you using it in in reflected or incident mode?
Which model flash is it? The spec. in the picture is for three different ones. There's not a huge difference between them in power but if yours is the 120 then the exposure you're getting isn't too far off - more so if you have one of the others. It doesn't help that the GN has no details but you can probably assume it's in meters and with an ISO of 100. So, at 1 meter distance, you should need an aperture of f/32 if you have the 120 model - so not a huge difference from f/22 but it depends on what distance you were measuring from (you said 'close' so I'm assuming about 1 meter) but also depends on how you are using the meter etc.
Also note that the instructions say the first flash after you adjust the output will be at the previous setting so you need to fire the flash once after adjusting the output before using. Sounds like the adjustment is in the charge voltage of the capacitor so, once charged, it has to be discharged before the new setting is effective.
Given that the copyright notice you showed is for 2010 these aren't that old so I doubt there would be any degradation of the capacitors or the tubes unless they have been very heavily used.