OK, thanks to all previous posters for their help - here is a bit of an update. I've done a firmware upgrade, and when used outside there is no problem with the camera at all. But in the studio there are definite issues. I've changed wireless triggers and receivers to see if its a fault with them, but the red wavy lines are there regardless of the wireless kit in use.
So it's something in the environment in your studio? From your previous post, specifically the studio lights?
You've ruled out the wireless transmitters. Sounds like the lights are emitting some kind of electromagnetic interference.
I'd be looking at them, and particularly their power supply - I'm assuming they are mains powered?
What happens if you shoot in your studio with some other light source and your usual lights disconnected from the mains (preferably removed to another room)?
Some precedent with a Quantum turbo battery - see post #37
http://www.dslrphoto.com/2006/02/23/chuck-westfall-comments-on-5d-camera-banding-issues/
I remember many years ago I had an Apple Quadra 800 that kept coming back to the Apple dealer I was working for in tech support because it was constantly crashing. We soak tested it for days and never got it to crash. Sent it back and the client would be on the phone within a few hours saying it was crashing every five minutes. It came back about five times and each time we sent it back saying we could find nothing wrong with it. We had the client come in to the office to see it working and they had to agree that it was OK.
Eventually, I made a site visit (they were a good customer) and lo! it crashed repeatedly in front of my eyes. I was utterly flummoxed.
The studio was in a basement. I popped out into the street for a cigarette and while I was there noticed that next door was an electricity sub-station - right next to where the poorly Mac was situated.
We moved the Mac to the other side of the room and it suddenly it started working fine.
