I understand that your system stop booting and you are getting 2 beep tones and it repeats one more time.
In regards to the problem that you are experiencing, the beep tones do indicate video problem and the POST code 00 indicates ready to boot.
The behavior that you are experiencing seems related to the motherboard, but there are some troubleshooting steps that you can try before replacing the motherboard.
I recommend testing the system out of the chassis on top of a non-conductive surface; this could be a wooden table or a newspaper. Also while you are taking the motherboard out of the chassis, you can clear the cmos by removing the power cables from the motherboard ( 2x12 and 2x2) and the cmos battery for an hour. Once you have the motherboard out of the chassis and cleared the cmos, we need to test the motherboard on a basic configuration, this means have the system as basic as we can. don't connect any hard drive, optical drive, front panel or additional cards. You only need to have connected the power supply, processor, Heat Sink, one memory stick and the video card.
If the problem continues, try a BIOS reocvery. You can find the insturcitons at the following web site:
These are all logical steps to determine what is the fault - but the motherboard is telling me it's specific - why would I need to go through an extensive and time consumming process to identify an errant part? Sorry, but your steps really don't give me a lot of confidence -it's the equivalent of windows telling me to re-install and hope for the best.
It's disappointing that Intel's error is so nebulous. "Video Error" is not very descriptive. Why is the motherboard reporting this error? Why would the motherboard report this error? There must be some sort of list of possibilities to better indicate this. If I knew more of why the Intel motherboard was reporting this error, I might be able to have a better plan of attack. What does the motherboard think is occurring when it generates this error??