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Hi,
On the 1040 movement, the large blue (in your case) hand IS the chronograph second hand. The minute hand for the chronograph is the "large hand with the arrow" (your words). This rotates once per hour ( like any other minute hand ), the sub-dial @ 06:00 is the hour counter for the chronograph ( numbered upto 12).
In the subdial @ 09:00 the tiny hand is the continious second hand. This should rotate all the time. And the small triangle is the AM/PM indicator.
For a scan of an English user guide for this movement Follow this link
For a scan of a German user guide for this movement Follow this link
I don't own any Seamasters with 1040 movements, but do own 2 Speedmasters with the 1040 movement. Neither of the speedmasters have a screw down crown.
I hope this helps
Steve
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