Trying to wire a 240v line-voltage thermostat
Simple "line voltage" T stat wiring. One wire is L1 (120V potential) from source, one wire is L2(120v potential)source connected to heating strips, then the switch, then L1 source. When the switch closes the 240V circuit is completed. If you have 240V when checking both wires together, and only two wires on switch, there is something wrong with the new fancy switch. If you have three wires coming from the switch then you need a neutral that you probably don't have.