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This is an indicator of an output load problem, turn unit off! remove the speaker wires from the back of the stereo, now turn power on and turn the volume down. If the word protect stays off there is a short in the wire or one of the speakers, but! if the word protect comes on " with the speakers and wires dis-connected " it indicates a short in the audio output ic pack in the stereo.
According to Page 46 of the LBT-W5000 Operating Instructions:
"The display stars flashing as soon as you plug in the power cord even though you haven't turned on the system (demonstration mode).
Press DISPLAY (for LBT-W5000 / W300 / XB700 / XB500) or DEMO (STANDBY) (for other models) while the system is off. If the system is in the Power Saving mode, press POWER SAVE / DEMO (STANDBY) (for LBT-W5000 / W300 / XB700 / XB500).
The demonstration appears automatically the first time you plug in the power cord, or if there is a power outage lasting longer than half a day."
I tested this today, as my LBT-W5000 was in Demonstration Mode. It definitely works. The only catch is (at least on the W5000), and it's a minor one, you have to reset your clock afterwards.
The protect message indicates that the output amp section has a problem. Normally this requires the replacement of the output transistors or the output amp pac. Expect the repair cost to be about $20-$60 for parts plus the local labor rate.