The problem is common to Mitsubishi projection TVs. Technicians dubbed it as the "blinking green light of death" due to its notoriety.
Here's the basic troubleshooting of the said problem.
- Make sure that no front panel buttons are inadvertently stuck in an "engaged" position.
- Disconnect ALL devices from the TV.
- Press the SYSTEM RESET button and hold for 10 seconds. Proceed if the problem still exist.
- Press and hold POWER and MENU buttons simultaneously for 20 seconds. Proceed if the problem still exist.
- Unplug the TV from it's power source for various times, ranging between 5 minutes and 24 hours.
If you are still having the problem, either of the following is causing the problem:
- DM Board Capacitors have FAILED
- Power supply failure
- EEPROM Board failure
If the capacitors are bad on the DM board, you can replace it by yourself and save a couple of bucks. The capacitors will cost you about $4 or less compared to $200 when you ask a technician to do it for you. Just insist that the 4-1000uF, 16V capacitors be replaced They usually insist to replace the DM board and cost you $500-$800. These are the capacitors on the DM board with the bulge indicating they are bad.
Same thing with the power supply. You can check the filter capacitors for this kind of problem.
Please let me know if you decide to do the repair yourself and need the guidance to do it.