WAIT message with flashing blue light



[qanda]This thread is about the Philips HDRW720. Click here to see full specs[/qanda]I cannot turn on my unit, it is locked in this mode that displays “WAIT” with the blue light flashing. I have tried resetting the unit by unplugging and holding the “standby-on button” but all I get is the product features scrolling, I am able to view the tv manually thru the tv, but not the unit. The unit cannot be accessed in any way. Any ideas ??? or has my unit died… thank you