Unlikely on PSU. What PSU is it btw, the stock A1200 one? If you have an A500 one that is a more powerful one.
I don't know the error colour codes, try searching the net for them, or someone else here will help you out (you might want to change the subject line of the original post to get more appropriate attention). Are you sure you plugged it in properly?
Could be a dead card.
