Thanks Peter, glad to hear it not just with kikinoko screens. Interestingly I noticed after a bit more analysis at the weekend, the errors were only being logged when the system was being put into standby. It seemed they were being logged in the VMEM log every 2 minutes after power off and didn't appear to be added to the NVMEM log. There were TV mmdd 34-2E errors on the initial screen and IIC2E-34:ACK_MIS with PARAM: 01013406 and on closer inspection the led on the BS3 itself was staying on green.
I decided to power cycle the unit and it was only then that I realised the led on the BS3 wasn't supposed to be on when on standby. It looks like during the standby process something was preventing it from shutting down and, I guess, it was trying every 2 minutes to do something. Maybe this is what the blinking red led signifies - that the unit is not shutting down and it's in a state of retry. I'd be interested to know if you see the same when you next get the situation.
Anyway, I still have the APPLICATION_ERR - ERROR_CODE: 00F8 - PARAM: 00050051 (along with 08000003 & 00010003) in the log, awaiting the call from the engineer as this looks more serious based upon the service guide info.