I am unable to make a temporary adjustment to the temperature setting by pushing the up or down arrow.
Is this because I connected the wires incorrectly?
I only had two wires from the old Honeywell T87f28373 - one at 6 O'clock and the other at 8 O'clock.

Here

http://customer.honeywell.com/techlit/pdf/69-0000s/69-1900EF.pdf

And here

http://customer.honeywell.com/techlit/pdf/69-0000s/69-1726.pdf