The regulator's diaphragms are contained within the two disc-like housings. The first-stage high pressure diaphragm regulates down to less than 1 Bar, the second-stage provides regulation to 30 mBar.
On the side of each diaphragm housing you'll see a yellow plastic cap - these are pressure relief ports, and if a fault occurs within the regulator, gas is allowed to escape from either one or both ports.
This is where the gas you can smell is probably coming from.
The first stage diaphragm is either the one on the right or the one on the left - in other words, I haven't a clue as to which one's which.
If a faulty regulator is confirmed you will need a new one - but don't have another Truma fitted. Cavagna bulkhead regulators are much more reliable as they're a single-diaphragm unit.
And a third of the price.