MB, white or grayish-white is principly a good sign, means working temps were reached (~ 600°C).
No, does not take time to reset. But can, until temps are reached.
This streching of cables might cause a malfunction, for this are pretty rigid (high temp)
lines like feeler gauges.
If you have the chance to see a car shop with a CO tester, ask them to do a test on your emission.
Should be under 2% CO. Hot motor. 1.5-1.6 opti.
New sensor: there are lots of O2 sensors available online, ranges from €15,- to €50,-
Watch for the cables and the correct thread/lenght.
If you have two cables on your sensor, take such.
If you have three or four and within those a red one, means your sensor is heated.
Pls see pic as an example...
Multimeter check: a guesswork but...
-cold sensor zero conductivity
-hot sensor conductivity
Like said, inexpensive ones available.