did a google search and found more:
http://news.filefront.com/xbox-360-s...ed-rings-past/
http://gamersyndrome.com/2010/xbox-3...ady-appearing/
apparently instead of the 3 red lights, the led in the middle of the power button turns red and an error message pops up saying the system is shutting down due to lack of ventilation.
Not 100% sure if it's real but I'm definitely going to hold off a while.