The device seems unable to maintain continuous data connection, as it keeps constantly disconnected.
To test SIM being bound to your Huawei modem, have you tried inserting it into your smartphone and testing, if it gets proper data connection?
Mobile interface is identified by its IMEI, not MAC. It does not have an option to "override MAC address", thus there is not much that can be done.
If mobile device works correctly, are you sure that APN value you have configured is correct? What value does the smartphone receive?
You should be able to upgrade your device to the latest 7.3.3 firmware, which you can download from here. Please, try that. Firmware image can be downloaded from here. Update with Keep settings option set to off.
Though signal indicators seem mostly good, SINR value during generation of the troubleshoot file is 1dB, which, according to this page, might be close to disconnection. Could you try placing the router in a different location?
Manually setting different frequency bands can also be tested. Bands can be set in Network -> Mobile -> General page in the WebUI by setting Band selection option to Manual.
If the issue persists on 7.3.3 firmware, please generate another troubleshoot.