I have 2 problems:

1. The "Timer Play" option from the menu has disappeared. 

2. The TV will shut down by itself after a few minutes (even the red dot disappear and will reappear after a minute or two)

I hope problem 2 isn't a big problem that will lead me to replacing the TV!

Most Bang & Olufsen TV's will shut themselves down after a while if the have a fault. They do this to ensure no further damage is caused to the television. I would recommend getting your dealer to look at i for you.