Your first post says, "After about 30 minutes of game ripping, I looked up at my TV screen... everything was fine, and then all the sudden the PS2 turned off completely." then in your subsequent post you denied plugging anything into your PS2. Were you ripping a game or not? We need the correct information to troubleshoot.
Also, what kind of memory card did you use? Was it an official SONY memory card or a third party one?
What program did you run from FMCB? It's kind of strange that your PS2 will just shut off out of the blue.
I also find it weird that your PS2 will show only the red LED and not the blue, since they both use the same +12V line..In any case, check for continuity on the fuses, but pay particular attention to the +12V line fuses.
PS3 - CECHA01 60GB 3.55 CFW Kmeaw
PS3 - CECHH01 40GB OFW
PS3 - CECHK01 80GB YLOD/Research
PS2 - SCPH-30001 - FreeMCBoot
PSX - SCPH 5501 (Repaired lens and fuse)
PSP-1000 - DA 5.00 M33-6