ML350 G5 server goes down randomly

[DennisCA]

Starting this week, our ML350 G5 server running Win2k3 has started to fail, it goes down several times a day now. What happens is the fans stop and the server goes down. Both the external LEDs on the front are red, the ILO logs only say power removed and power restored after it reboots. 

Anyone got an idea what is the problem, I am wondering if the PSU or something related to the power systems have gone bad? This server has been running fine for 7 years now, haven't in that time really updated any firmware or anything like that so it seems strange if that's it now, when it has worked for this long.

I am not sure but the problems started with our Eaton Power 5110 UPS which is connected to the server, when I ran some diagnostics on it after a long power outage. I tried connecting the server directly to the wall socket to rule out the UPS but it didn't seem to work.

Can the UPS running self-tests somehow have damaged components in the server? If so which ones? It would be nice to have it run since this spurred us to get a new server (another ML350) and we'd like to turn it into a VM so we can keep it running until we've moved to a more modern OS (Win2012)

But for that it needs to run long enough for the VMware software to make a VM from it.

Edit: I am attaching a picture that shows the internal LED health light turn amber. Consulted a PDF I found and I think this is the PPM2 module, we don't have a PPM2 module as you can see.