Computer won't boot at all, but has power

Hello,
PLEASE help me! I have a homemade build my son made with beta version windows 7. I reloaded a version 7 Pro with new key a few days ago. I used it maybe 3 or 4 days. When I returned, computer was asleep and would not wake. I tried to hold the start button in, but it was pretty much dead other than the red power light inside the computer. It is a gamin case, so I can see inside.

So I unplugged the computer. Light went out. I waited and replugged in computer. Red power light came on so I pushed the on button. Both cooling fans started, blue lights flashed like system was booting up for 2 maybe 3 seconds and then it all stops. Red light is always lit, but the system will shut off, fans stop and blue lights go out.

A few seconds later, it takes off and tries again. This happens over and over, but will never beep or boot up. Nothing makes it to the screen. I have no luck pushing any F buttons because it never makes it that far. I am just sick over this. I have a thousand plus dollars in this build, which my son built and is 700 miles away now. I know it isn't the power. I have tried plugging it in different outlets, but since red light is always lit, I see how it could be power since red light never flickers. I thought if the hard drive was bad it would click. I also thought if the memory was bad it wouldn't do anything. I don't have a clue. HELP, please. What could make it shut down that fast over and over?

Configuration: Windows 7 / Internet Explorer 8.0