Just bought a brand new lcd and digitizer for my lg stylo 2. I took the old one out and replaced it with the new one. Now...

The red light of death does mean overheating if i remember correctly. There are two ways to fix it. First, you can get some sort of a box or closed container and a blow dryer. Then, try to get the ps3 as hot as possible ( I know it sounds stupid, but it worked for me). Finally let it cool down and then see if it works. The second way is to resolder the chip or something like that. I dont know how to do this one but, mt local gamestore quoted me $70 to fix it.