Suggestion:
I am guessing you replaced the xclamps with screws, make sure you are not using washers between the mainboard and the GPU, I see this often and people use washers that are too thick or too many and the heatsink does not make actual contact with the GPU, same for the CPU.
You need to apply pressure to the GPU to correct RROD and remake the connection to the mainboard. Put slightly more pressure then that of the xclamps. If you bought a kit with washers throw it away, you have been scammed.
By 10-32 x 1/8 machine screws, these fit perfectly and will allow you to seat the heatsinks properly.
If the power supply turns red it means your mainboard is getting shorted out (grounded). Loosen the screws a little bit at a time(move them slightly) for the heatsinks and it should boot up again.

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