Accoustic solutions 32" flat screen fault - screen coulours alternate?

I have an accoustic solution tv 32", it has worked fine, usually when i turn it on it comes on standby and a blue light comes on at the front and then i turn the channel etc, however when i turned it on yesterday the blue light came on but immediately goes off the tv screen then changes to a red screen, this then changes to blue then green and keeps altenating, why is this and can i fix it