Since you are in the Southern Hemishere, it needs to be upside down to work. But seriously, email Krell.
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Most the newer Krell products have chip that detects the voltage frequency and it will not work if the frequency is different. Since you bought the unit in the USA, the chip will be looking for 60 Hz and NZ has 50 Hz so it won't work.
You can contact Krell and see if they will sell the 50 Hz chip which I don't think they will. The other solution is to use a PS Audio Power Plant P300 which has frequency adjustment and also take care of the 230V to 120V step down issue as well.
I was thinking along the same lines... that there is a frequency difference here in NZ that affects some electronics. Previously, the NZ Krell dealer suggested that I use a (regular) step-down transformer to power the KCT. Maybe he was jut not aware of the frequency issue.
You are right...Thanks for information. I will contact Krell about the 50Hz vs 60 Hz and look into the PS Audio Power Plant P300. Thanks!!!