Try the second option.
It seems the text is replaced with their variables.
Because as you may know, the text you see in electronics is first and foremost variables. This allows devs to create interfaces that can be translated with ease with a single code, instead of having a firmware for each language. So when Locale is set to EN_CA, the %IDS_ST_OPT_WIFI% variable is replaced with "Toggle WiFi", and when in FR_CA it becomes "Act/Dés Wi-Fi" and so on for each supported language
This seems to be a bug. Try to reboot. Maybe the formatting messed something up and you may have to flash the firmware again with NetOdin
Try to tap the %IDS_ST_SK_OK%. It appears this message only says the watch can't find a SIM card.
If it doesn't work, insert your phone's SIM and try again