New 43" 4K UHD TV stuck in service mode / color cycle mode. Any help?

Figured I'd post here as I know alot of people to tinker. After seeing so many videos from Logan/Wendell on how amazing 4K 40~ish inch monitors / tv's are, I decided to bite the bullet on cyber monday.

Snagged a Sceptre U435CV-UMC http://www.walmart.com/ip/Sceptre-U435CV-UMC-42-4K-Ultra-HD-2160p-60Hz-LED-HDTV-4K-x-2K/46867816 from walmart for only $260 (apparently still on sale). From what I read in the slickdeals post, it's 4k @ 60hz w/ HDMI 2.0 and is HDCP 2.2 compliant. 10 bit color depth but uses 4:2:0 chroma subsampling, although some users are reporting that you can also do 4:4:4 at 30hz as well. Seems like a good deal and alot of people are really liking theirs.

Mine unfortunately upon initial plugin, seems to cycle colors - flashing from white, red, green, blue and black. It just sits there cyclcing, no OSD no response from the remote (other than power on/off). Physical buttons on TV also don't seem to do anything either. Power on/off, plug and unplug, nothing. Seems to be stuck in this service mode.

After talking to Sceptre support and doing some super basic troubleshooting, they want me to send it in for servicing. I'm not convinced thats really all that can be done - turn on/off for a "factory reset." There doesn't appear to be a "service port" on the back and there are no firmware downloads available on their site, although it does have a USB port on the back.

Does anybody have any ideas?

Check if you do not have a stuck button somewhere in the back or a blocked service hole.
Do not turn it on with remote and try each control button on tv by pressing a good 30 seconds. (at own risk)

I would return it to Walmart and get a new one