If you have also a widel kit and doesnt work, then it's clearly a proble with your setup. I've used 12V only and worked for me. I don't have the wiring schematics right now, but I'm sure someone here can help.I can't now unfortunately. I corrected dip settings per troubleshooting guide in the manual and popped in my Widel kit. Adjusted 5v down to a just over 5v (was around 5.19 at first). That sort of worked, but I had graphic glitches and games wouldn't load. Then it just froze up while fiddling with the volume control.
Aaaaand now it's dead. Nothing pops up when powered on at all. With either kit. So I guess something failed.