Thanks for using our forums. Sorry to hear you are having an issue viewing your Slingbox.
The blue screen could be a few things. It could simply mean that your cable box is turned off. To turn it on, just bring up the remote and hit the power button. If this doesn't restore the picture, you could be getting HDCP, which is High Definition Copyright Protection coming from your cable box. In order to get rid of this issue, you would remove any HDMI cables and use only component. I know that you said you are using component cables, but if you are using HDMI from the cable box to TV, it will still pick up the HDMI.
When I connect my set-top box to my TV with HDMI connections, I can't stream video at all using any version of SlingPlayer. Why?
Hope this helps,
The Sling Moderation Team