How does sega monitor the blanking. Is it the same theory as Williams?
Basically if the blanking goes low, a circuit (typically a pia output) stopped cycling for a certain interval of time. When this happens it triggers the blanking. Blanking normally can be treated as a symptom of a non working board, not a cause.
If the power supply board is outputting good voltage, have the MPU serviced. Hopefully it is under warranty.