Sorry to bump, but I have the same problem. Have done since as long as I can remember (bought the PC off overclockers two and a half years ago now). It came with Vista but I don't recall ever using sleep mode then so couldn't say if it worked back then or not, but it's certainly been an issue ever since I've had Windows 7 on it (it's since I've had Windows 7 I've started to want to use sleep mode to save money since I live on my own now!).
The PC shuts down into sleep mode just fine, and then when I press a button it fires back up, lights come on inside, fans come on etc. The mouse and the keyboard don't "wake up" unless I use them (ie, click the mouse or press a button on the keyboard), but then they light up. Just that the monitors never receive a signal. I'll have to see if I can still access it over the network whilst it's doing this.
In this time, I've had a new graphics card put in (although still ATI) and it's not solved the issue. Interestingly, at one point I managed to accidentally replace the overclocked BIOS that Overclockers did for me with the standard one, and whilst it was operating "normally" it was able to sleep fine. Re-activating the overclocked BIOS gave me all my lovely overclocks back, but it returned to being unable to sleep.
I've scoured the internet and I've never been able to find a solution to this. I've tried all the usual tricks (updating drivers - which I've done LOADS of times by now since this has been going on for years; also, disabling turning off USB, PCI Express, etc.).
Very strange.