The quick green-to-red problem can be caused by a blown fuse, but not always... there's two switches that must be closed by the drive lid, and if they're not, you also get this effect. Also, if the POWER line is incorrectly attached or is grounded, the same can happen.
I've had it happen to me a couple times, where I've incorrectly chosen a POWER point, or when the little switch on the top of the POWER button is not aligned properly and not getting depressed when the lid closes.
I'd recommend verifying what the cause is... try removing the POWER, EJECT and RST wires from the board/chip, and put it back together. Try to boot an original. If it works, you have an install issue. If it doesn't, then begin checking your fuses/caps with a multi-meter, and double check that the cases switches are being properly closed.
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Oshawa modder... up there in Canada.