Image tinted blue, washed out.

Question

The power blipped off in our house yesterday. It was off for less than a second, when it came back on  the TV (Olevia LT37HVS) made a loud whine until it was shut off.

Now with the factory defaults, the image is tinted completely blue. If we set the color setting to 'cool' it looks more natural but the image is completely washed out and no amount of fiddling with the contrast/brightness/etc will remedy it.

The TV is out of warranty. Any suggestions as to what has gone wrong? I am assuming it is something to do with the backlights or the powersupply that drives them (but honestly that is just a WAG).