"U12" seems to be an accelerometer used to detect the direction of gravity in order to detect the orientation to give to the display (portrait or landscape). I also have a GMC-500+ but older on it there is only the imprint of "U4" which is present and mounted. This is the accelerometer on my counter. seeing how U12 is burned, there must have been an overvoltage on the 3v3 rail or on i2C bus, this could have destroyed other components, maybe not.
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Sorry I thought I posted a reply already. Damien is right. That chip is for the accelerometer. Part number is LIS3DH. If you remove it, the counter should still work as normal except the Auto Swivel display.