I am sorry, but I probably cannot help you. I read the thread, and it sucks, but I have virtually no experience with the xenon amps. The only one I have is a 400.1, I bought it for $10 and didn't even try to fix it, I have just been using it for spare parts. The 400.1 is an entirely different design then the 200.4.
The "white noise" you describe, if it sounds kind of like wind on a microphone, well, it can be a sign of many of different problems. Cold solder joints, leaky output transistors, bad bypass caps, and many other things, including lots of potential problems in the input and crossover section. The fact that it goes into protect leads me to believe it is more likely a problem toward the output end of the power amp, but that is just a guess. From what I understand, Sanken transistors like this amp uses for outputs, are normally very reliable. I have no idea how the protection scheme on these amps works though, It looks like the 400.1 I have has a PIC in it though, and if I had to guess, I would guess that both the protection and the Xe-load function are controlled by the micro. If that is indeed the case, then we would have to see the code on the chip to know how the protection works, PICs can be read protected, so it is unlikely that we will ever see the proprietary code, even if you pulled the micro and tried to read it.
I have said before, and will again here, I just mess with this stuff as a hobby. There are many more knowledgeable people out there, considering that you have a EE degree, you probably have me beat
If you decide you want to sell the broken one, I may be interested in buying it and seeing if I can find the problem, I would then be able to give you guys more info, but it would still be a bit of a stab in the dark.
You also might PM roland, or call someone from PG and see if they can point you in the right direction, it seems the first revision Xenons are riddled with problems, and they must have some service bulletins...
Good Luck,
Jason