Your connections to the Aref/Aout/Agnd look OK. However, you have your spindle motor connected to F+/A-. Shouldn't that be either F+/F- or A+/A-???? I don't know the KLBC-240DS in detail, I'm just looking at the users manual pictures.
And the connections between the 107 and the contactor are not right. You need 120VAC across the contactor coil to engage the contactor. All the 107 will do is connect (short) its COM and FWD/RUN terminals (or COM and REV/DIR). So presuming the contactor has a 120VAC coil, you need to take 120VAC (hot) into the 107's COM terminal, then the 107's FWD/RUN terninal fo one contactor coil terminal, then from the other contactor coil terminal to the 120VAC return/neutral. This allows the 107 to switch 120VAC on and off across the contactor coil.
When you run the 107 in "test" mode, what happens if you press the button once to enter test mode (presumable spindle runs near full speed), then you press the button one more time. The spindle motor should slow down to around 30% of full speed. Does that happen?