Yep, there is a valve that closes off coolant flow through the heater core when you switch on max ac. It's vacuum operated and is located in the inlet heater hose under the hood. You should be able to watch to see if it changes when someone switches max ac on/off. Other than that I would definately change the t-stat out. Cheap and easy and if failed open you probably wouldn't know from monitoring the 'temperature gage'. Let us know what you find out.