Red STANDBY light comes on when plugged in...then Blue power light comes on when tv is turned on, but theres no picture OR sound...what is the problem?...

This sounds like a power board issue, if you unhook all boards and power the power supply up does your standby voltage seem steady?

The standby light means the tv is plug into the wall and getting power. A power surge can wipe out a tv and still leave the power light on.

If back-light is OK, the fault will be with its T'Con board. If you wish to get some details; check the site linked here. Pull up older posts.
http://electronicshelponline.blogspot.com/

It sounds to me like it's stuck in service mode.There is a button combination with the remote to return it to normal. I would call Vizio support and they should be able to help you.

I think it's a combination like [volume -], [channel -] and power but I could be wrong.

it is the power board in the tv hase some bad capasators in it but can cost some money to fix if unsher how to do it on your own if you live in central new york i do have my own shop and im cheep but i can not warenty any thing but i can help 315-280-0508 storm electronics ask for corey

The mainboard needs to be replaced

my sony red light flash.but it will not turn on just clicks

The STANDBY light is flashing on the television and there is no picture or sound. Solution
The STANDBY light will flash if an issue is detected within the television. This can sometimes be resolved by simply following the steps below to reset the television.

1. Turn off the television. IMPORTANT: For a projection television that uses an internal lamp, wait 5 minutes after turning off the television to allow the lamp to cool before continuing with the following steps.
   
2. Unplug the television power cord from the electrical outlet.
3. Let the television remain without power for 60 seconds.
4. Plug the power cord back into the electrical outlet. NOTE: If the television is plugged into a power strip or surge protector, remove it from the power strip or surge protector and plug it directly into the wall outlet. If the issue is resolved, the problem is with the power strip or surge protector and not the television.
   
5. Turn on the television.

If the issue is still unresolved after following all of the troubleshooting steps, service may be required. Please note the number of times the STANDBY light flashes and relay that information to the service center.