Hi, could be a motherboard but I would still like to swap a PSU over first for a known working one. Also when you tested the 12V did you measure the 12v via the yellow and black leads on the Mobo??? Also, did you have an fan or optical supply connected to the PSU, as you should really power up a PSU without a load on the PSU as it will damage the PSU.
I would still try swapping the PSU with a known working one, cause just becase you got a 12v rail reading from the PSU either with some component like a optical drive or fan or nothing connected to it, don't mean the rail is stable enough to power a full system, as powering up a E6600 overclocked with other power hungry components, is a bit different from powering up a single component.
Still think the PSU could be unstable and worth checking, as LED's require so little voltage to light up.
Anthony
I would still try swapping the PSU with a known working one, cause just becase you got a 12v rail reading from the PSU either with some component like a optical drive or fan or nothing connected to it, don't mean the rail is stable enough to power a full system, as powering up a E6600 overclocked with other power hungry components, is a bit different from powering up a single component.
Still think the PSU could be unstable and worth checking, as LED's require so little voltage to light up.
Anthony