RROD stands for the Red Ring of Death. It is 4 LEDs arranged in a ring. The console will use different combination of flashing LEDs to indicated the nature of the different problems.
I did a bit of reading up and it says 4 lights indicate an AV connection problem. Either the AV port is faulty or the graphics card.
I'll go give that a try and see if it works. At least there's hope. hahah.