My slingbox is doing the same thing! Your power light looks much brighter than mine but other than that, i am getting the same solid light that you are and have held down the reset button for as long a 60 seconds in my attempts to do a factory reset. Please know there are probably many others with this same issue but I am stumped on where to get answers here.
Thank you for posting on our answer forum. I see that the Logo light and the Power lights are the only lights that are on with your Slingbox. I have an article I would like you to look at, I will put a link below.
I hope this helps,
Thank you again,
Sling Moderation Team