When I turn on my Dynex 32"tv the light indicator turns from red to blue indicating the tv is turned on but there is no picture or sound! Does that just mean the tv is short poor no good anymore or what??? Any ideas? Thank you SO very much in advance for your help!

I recommend trying to power cycle it( unplug for a moment and replug it back in) if that doesn't help try the same thing but move the TV to a different outlet. Make sure you check all the inputs to insure everything is connected properly. Unfortunately it sounds to me like you have a dead panel. Especially if when you turn it on the there are no light emotions from the panel itself.