When interior unit runs on "heat pump" setting, outside unit does not kick in. Had a red indicator light come on the thermostat Monday - switched to furnace setting - but only emerg heat works. We are having to use spaces heaters in the midst of freezing temps outside! Need help troubleshooting. Thanks!

Hi there We were lucky enough to get a Lowes gift card for Christmas so today we went and bought a programmable thermostat. My wife read somewhere about how they can save us money on our heating / air con bills. Our old one is from when the house was first built I think (so at least 20 years old).. new one is a Hunter 44550 old thermostat seems to be no name brand.. Old Wiring letter designated on old thermostat followed by wire color.. c = blue G = green Y= yellow R = red W2 = brown (or it may be black) W1 = white O = orange The new thermostat has spaces with the letters.. W RH RC - there is a jumper wire between RH and RC which it says are for 2,3,4 wire systems.. G Y/Y1 O/B We have read that as the new one is battery powered we should cover up the C=Blue wire as that isn't needed anymore.. The thing that is throwing us is that we have a W1 and a W2 wire but only one space on the new thermostat for W.. We have tried their help line but it is closed till Tuesday.. Any help appreciated, I don't really want to damage something major by messing about. Paul