If you haven't heard of CrashSerious then listen up. They have dropped a release for your PS3 called RSODfix Lv2diag.self v0.1, the FULL and COMPLETE "Red Screen of Death" Solution release. This is different and should not be confused with the PS3 RSOD Fix. So anyway, this means that if you have or ever get the dreaded RSOD then now you are in luck. CrashSerious used the open source PSL1GHT and this code is legal.
You can see the usage instructions below and get A LOT more FAQ's Q&A and answeres from CrashSerious at the source.
"Usage:
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Place this Lv2diag.self in the root of an empty USB flash dongle, and use any method to toggle Factory Service Mode (FSM) (We're partial to the second release we make today, but you can decide for yourself).
1. Copy the .self in this release to the root of a USB flash drive.
2. Rename the file to Lv2diag.self.
3. Place the flash drive in the right most USB port.
4. Toggle FSM.
5. Boot PS3
6. During FSM boot, the Lv2diag.self will execute.
Upon success, you will hear a single beep, and the playstation3 will automatically reboot to XMB. Upon failure, you will hear one or more beeps, and the playstation3 will shutdown. If you experience a failure, its likely due to your FLASH being corrupt beyond repair or a hardware problem, try it again-- but if repeated attempts at these easy instructions still yield no results... The outlook looks grim."
Source
