My 6.5 year old G5 is only partially starting up.

1. Power button lights and does not blink
2. Chime sounds
3. Fans cycle to regular speed
4. Graphics card fan powers up
5. USB powers up

THEN

1. two LEDs, one at each processor, light up RED. This is not at the RAM sockets but where the processors are located.

That's it, and within a couple minutes the fans begin revving up.

Keyboard doesn't have any effect (holding down "shift", or "C" to boot apple hardware test CD, or "option" to choose another boot disc).
LCD screens remain dark.
None of the hard drives fire up.
Optical drive sounds like it spins up.

I'm completely stumped and I can only find info for leds for the RAM sockets on late '05 G5's...nothing for leds for the processor chip section.

Any help would be greatly appreciated.