Sun Fire V480, V880, 280R With 900 MHz CPUs May Panic or "Red State" Due to Incorrect L2 SRAM Parameter Settings in Firmware
Sun Alert ID: 55480
To recover from a "Red State" loop, turn the keyswitch to diagnostic mode which should break the loop and fail out a module. The system should be power cycled next and POST rerun to verify if there is a hard failure or not. If the item does not fail on the rerun of POST, you should contact Sun Services support to confirm whether you have experienced this issue.
This is fixed by updating firmware to 4.10.7 or better