Major bummer. Have you worked your way through this: http://pinwiki.com/wiki/index.php?title=Williams_WPC#Power-On_LEDs_and_Sound_Tones_.28Bongs.29
5.4 Power-On LEDs and Sound Tones (Bongs)
When the game is booted, several LEDs in the backbox will light, and the game may provide sound "bongs" to indicate diagnostic status.
A properly booting WPC game will show a "progress bar" on the DMD along with a "ticking" sound which results from a series of reset signals being sent to the sound board. After a successful boot, the sound board will create a single "bong" tone.
5.4.1 LEDs on the MPU
Note: WPC and WPC-S games label the MPU and Power/Driver board LEDs as "Dxx". WPC-95 games label these same LEDs "LEDxxx".
Three blinks - problem with the ASIC (WPC) or a problem with the security chip (WPC-S and WPC-95).
D21 (LED202) - "5VDC present". This LED provides a simple indication of the presence of 5VDC. This LED isn't CPU controlled. It's illuminated by a simple 5VDC connection.