It needs to see a doctor.
You may have a defective switch but I very much doubt it. And what's with this red & green light that only shows red? Does it always show red or just when you operate the on/off switch?
Enough of switches... My guess is that the machine's DC Power Supply may well be broken - a small computer-repair shop might sell you a second-hand one for half price. No special skills are required to change them over. A 10 minute job.
Good luck...
Peccavi
March 2013