Ok so your symptoms are specific enough to see that your CPU has booted based on the flashing of the blanking led. If it were me, I would check every fuse on the power board using a dmm. Report back with those results.
I would also suggest reseating every ribbon cable that goes to / from the CPU board on both ends and make sure they are attached with the red line on pin 1.
You could try swapping the Dmd itself with another one of your Dmd games and see if the display comes on. It sounds like there could be multiple issues. But it really feels like a CPU to other board communication issue to me. Too bad you don't have other wpc95 games to swap more parts.
I also like DeathHimself's suggestion. Please report back that data.