If the lamp led is still red after replacing the lamp. The problem is the Capacitors on the power board have failed. You can get the V26 Power board repair kit which contains the replacement capacitors and has a cd with step by step instructions on how to do the repair. Heres a link to the correct kit for your model.
http://servicemanuals.vstore.ca/product_info.php/pName/mitsubishi-v26-dlp-power-pwb-repair-kit/cName/repair-kits
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