If you are not getting the red 12V LED, then your on-board 12v supply is out for some reason. There is one IC (U14) and plenty of caps/resitors and an inductor that is part of that circuit that takes the 48V in from the main supply. You could do a visual inspection of all of those parts and see if any of those components looks suspect. Troubleshooting and repair on these boards is a bit more advanced.
Did you change anything recently? Do you have a shaker installed?