Not something I've heard of before, but it is apparently a system failure of some kind. I did a bit of digging about on tinternet but the only advice there seems to be is the usual - power down, disconnect everything from the back then reconnect again and try again. Maybe try removing the hard drive as well. Failing that you may have to call Sony support -
08705 99 88 77
help@uk.playstation.com
Seems to be very rare. You don't have much luck, do you?...