at 31s you can see the instant loss of thrust, and it must have been symmetrical as the plane remains level, i.e. both engines immediately shut down. As an amateur, I wasn't aware FSOVs existed, but you are looking for something that instantly cuts both engines at exactly the same time, and that's why this seems plausible.
I have to say that something related to electrical power delivery and software also seems to me the most likely area to be the cause of the crash. The problem with software is that it is very hard to model for all possible scenarios.
They normally live in or around the pylon are and are the ‘aircraft’ side of things to cut fuel to the engine. In my experience they’d only be closed for maintenance, testing or in an emergency, and left open during normal operations. Some aircraft or airline practices may differ though. They’d also be operated by pulling the T-handle, which is the big red emergency panic lever that cuts off fuel, hydraulics and electrics to that engine - on TriStar the fire bottle switches were also behind it so you had to shut down the engine before you tried to put out a fire, otherwise you’d just keep feeding fuel to it…
On Chinook it was a recognised method of shutting off the engine if the FADEC system was showing certain fault codes - they meant you couldn’t guarantee safe fuel cut off as normal so you just pulled the handle and starved it of fuel instead.
A pattern I've started to notice with all of the theories people have come up with is that they are all saying "This issue could have happened and it would have crashed the plane" or "The pilots could have made this error and it would have crashed the plane".
And in almost every single instance it's always pointed out that "of course it couldn't happen in an A350 due to the extra protection/failsafes".
I guess this is what happens when one manufacturer becomes the biggest in the world via cost cutting and bribes

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I don’t think it’s that simple - modern aircraft have a myriad of boxes and while they may be able to trace where the signal came from to shut down the engines, figuring out WHY that signal was sent is another matter. The boxes all have there own software, different build standards depending on engine choice and optional extras, and are updated both in service and when sent for repair. Knowing what software standard was installed, and if it was installed correctly, will rely on maintenance records being accurate.
After that, they’ll have to figure out what line of code could have caused it - was it a random certain of inputs never seen before in 14 years of operation, maybe a specific outside air temperature value and weight of aircraft figure producing numbers out with programmed limits which kicked in with the switch from ground to air mode.
You only have to look at the space programs to see what software bugs can do:
In this article we are going to tell you about seven space accidents caused by computer errors
universemagazine.com
This is all speculation on my part - I fear it could take months, if not years to find the final cause.