Having the same problem but the serial cable will not work because it will not turn on and have no way to put it in boot mode....have only found one thing on this...

"CW 700 repair Red Light Only

OK here we go a Friend bring me a CW 700 with one red light on front display .no display numbers looks like dead ,i try factory file forcing no way because can't pout it in boot mode ,so operation starts i open the box power Bord looks good no damage at all ,i took the Bord out and wile was hooked to mother Bord did sum testing with voltmeter and i find the C16 and C17 Capacitors was week not death i took a chance of replacing them because my next door Nambour is a electronics repair shop he give me two new capacitors 1000 MF 16v day are very large then the original i replace them both and wallah display shines like a Christmas tree again re load the latest 223 and wallah all good to go again ,so C16 C17 replaced i try to post a picture if i can ,buy the way the parts cost me 0.23 cents . each "

have not tryed it......