Long story short - I was given a Pi2 by a colleague, who managed to shock it with an el-cheapo Chinese AC adapter on it's first power sequence. After visual inspection and electrical testing I have managed to re-soldered a pair of tantalum caps near by the uUSB socket and the Pi started reacting to external power source and prepped uSD card. And yes, the person who gave it to me waited a couple of days for polyfuse to recover, didn't help much.
I've burned 05-05-2015 Raspbian on the card and started tampering with the Pi, but it didn't display any image through HDMI on my Samsung T22B300 (monitor-TV with a single HDMI port, no CEC), nor on my dumb Toshiba NTSC 32C100U1 (two HDMI ports, CEC support), saying No Signal. After playing with it some more I've decided to go the SSH route after determining the IP address my router has leased to the Pi via DHCP. It worked .. and so did TightVNC via iTeleport on my Mac.

So started toying with config.txt and quickly determined that hdmi_safe allowed it to boot with image being displayed on just one single HDMI port on my Toshiba, but Samsung kept saying No Signal regardless. Second input on Toshiba would show up jumpy and the image would appear and disappear constantly... there's one BUT.
The image had a severe interference and red color dominance.
After reading what hdmi_safe brings I've commented it back up and started switching the config array it sets on and off. It came down to having to use DMT (group=2) and boost no lower than 4, the rest didn't matter for Toshiba. So I ended up with hdmi_mode=39 and hdmi_group=2, having config_hdmi_boost=4.
state 0x120016 [DVI DMT (39) RGB full 16:9], 1360x768 @ 60.00Hz, progressive. Tried changing pixel encoding to no avail.

I've tried prepping the card both from Ubuntu and OSX dd as well as from WIndows Win32DiskImager, which everything ended up being the same. I've used the Asus Nexus 7 charge (2A) to power the Pi and a pretty expensive 1.5m HDMI cable from Sonorous. I've tried swapping the charge to a Lumia 920 fast charger, Huawei 4G modem DC wall adapter and an iPad charger. I've tried other HDMI cables, including a short 15cm cable with good shielding - same story, red interferes and dominates other color components. I couldn't get any image on friend's LG 1080p screen, nor on a couple of Philips HDMI screens at the office.
I then decided to try Ubuntu Mate since this is a Pi2, allowing for native ARMv7 code. To my surprise, the red component has completely vanished, resulting a pretty crisp image comprised of blue and green hue colors on my Toshiba.. I've tried everything again on the Sammy monitor-TV and got the same No Signal as with Raspbian. I can dump EDID from Sammy though whilst it's connected, so I'm not too certain how is this even possible .. means it negotiates handshake, but refuses to display anything.
EDID: http://pastebin.com/raw.php?i=My7HZY4g
Does anyone have any experience in fixing this kind of issue or this thing is toast? I have hot air gun reflow station and as last resort I was gonna try and re-work the HDMI socket.. but before I do, perhaps it's a software issue? Haven't bought it myself so not loosing much here anyway and have a Synology box which is capable of pretty much the same, but would be cool to have it fixed for Kodi at least.
Thanks in advance.
Best Regards,
TW
P.S. when kernel inits, it looks somewhat similar to this awful red tinted snow- https://www.youtube.com/watch?v=FHucCn1PstM