This is advice for anyone who has a fault with 2 red lights flashing on the ring of light due to overheating and is handy with a screwdriver.
I feel I have to share this advice with all of you HUK Dealers out there. This is my genuine experience of what caused my 2 year old OUT OF WARRANTY Xbox 360 to fail due to overheating and resulted in 2 red lights on the console.
ROOT CAUSE OF THE PROBLEM:
It was clogged with dust internally and this was preventing the air from passing through the cooling fins of the heat sink.
I plan to repeat this self servicing every year to prevent it from happening again.
Playing on the console normally for a few hours and then it would stop suddenly with 2 flashing red lights. Resetting the console worked ok at first. However, a few weeks later it gradually began happening more frequently with shorter intervals of playing time in-between. Eventually it would only play for about 2 minutes before overheating with 2 red lights flashing to indicate overheating.
I rang Xbox support and ran through the symptoms with them. They eliminated some obvious things that should be done e.g. keep it off the carpet / keep it out of confined spaces - preferably on a stable base in a well ventilated place. (This was a well cared for console and none of it applied). They advised a repair was required at a cost of approx £65 including shipping, but that this would also cover the console with a 12 month warranty from the time of repair.
SOLUTION (£65 SAVED):
I advise you to do all of this on a wooden bench to avoid static. Make sure the Xbox and all it's internal components are fully cooled down. Also, first remove static from yourself by washing your hands (this will earth the static).
(1) Remove all cables and connections / memory cards etc
(2) Remove the hard drive (where fitted - it just unplugs).
(3) Remove the plastic case as follows*:
*Note: carefully prise all the plastic lugs / clips so as not to break them during removal.
*Remove the 2 plastic end plates first
*Remove the bottom of the main outer plastic case
*Remove the 6 long screws to release the other side of the main outer plastic case
(I needed a T10 driver bit to do this).
(4) Very, very carefully blow out all of the dust, especially where it clogs the metal cooling fins of the heat sink. (or use a plastic handled brush with no metal parts - canned air is useful for this or use a balloon + pump + straw) (see thread advice).
(5) Reassemble in the reverse order of the previous instructions.
This self service cured the overheating problem and the console works fine now.
*Note: Please don't confuse this with the 3 flashing red lights on the ring of light which is a separate general hardware failure that Microsoft will repair free of charge for up to three years from date of purchase.