Screen saturated green, flashing blue. Component, video problems?

I have not had many problems with my Xbox 360 (other than the occasional freeze) until just two weeks ago. I was playing Mass Effect when all of a sudden my screen started to flash blue then become ultra-saturated with a green/yellow tint. This color was present on everything on the Xbox (dashboard, DVD, etc.), not just the game. I thought it was my TV, but I switched video inputs to see a TV show, but that was completely fine. I simply reset the game system and everything was fine. After another 10 minutes or so, the same thing happens again with the blue flashes and the ultra-green saturation. The blue flashes keep happening continuously after the saturation happens as well.

This has been plaguing my system for two weeks now and some days it won't even happen surprisingly. My thought could be that my component cables are broke as I have one of the original Xbox 360's (purchased November 2006) with HD component outs to my 720p TV. If anyone thinks it might be the cables, I may purchase a new set tomorrow.

I am also worried it might be overheating, or could be my video card messing up, and/or could be a precursor to the RROD red ring of death? Any ideas anyone? I am out of my one year warranty, unfortunately. Ugh. Thanks for any help!

-Jason

Ive been having a similar problem it only started yesterday. This is what it looked like

I also got a black screen with error 74 i think its the av cable so im trying a new one.

I've just recently gotten the same issue, and was wondering if Microsoft had a resolution. My Xbox is just 2 months shy beyond the 1 year Warranty. This can be frustrating as I havn't abused my console or anything. I suspect it might have something to do with the unusual amount of hot weather we've been having lately.

I believe it's a CPU problem, not a cable problem. There's no way to fix it unless you know how to repair Xboxs. Call Microsoft, it's included in your 3 year warranty.