Oh boy that doesn't look good. Can you explain exactly what steps you went through before flashing the BIOS?
Formatted a USB to FAT32. Downloaded the latest BIOS direct from the MSI website. Unzipped the file and renamed the appropriate file 'MSI.ROM'. Took new mobo with out RAM or CPU installed, plugged in CPU power and ATX power connectors. Plugged USB into the highlighted port, clicked the flash button and it hasnt stopped flashing red since.
Not the case , the motherboard has bios flashback which can install the bios without a cpu.You removed the CPU and RAM? I've never done that when updating the bios. I can't say for sure but what's probably happing is the flash utility is trying to write the latest AGIES code to the CPU and has stalled because it can't find the CPU.