I've encountered a very similar problem. My modded box has been running great for a few months now (X2 Pro), then one day it decided to restart twice and then flash green red. My solution...

I drop the box from the height of about a half-inch.
Now this may not be the best way to fix a problem, but it has seemed to work so far, every week or so it reoccurs however.
Finally today I decided to put an end to my abusive fix, and popped the box open. As soon as I unplugged the top piece to the X2, then plugged it back in, the box booted just fine, up to that point however I received the boot, boot, flash. So, the lesson here, make sure everything is plugged in, and good. Apparently this will be an ongoing problem for me however, as I have reseated the entire X2 chip several times in the past and this problem just keeps comming back. I'm beginning to think that I should just flash my TOSP.
Hope I have helped, or at the very least confused someone, peace out yo.