Unfortunately the PCI POST card is limited by the information provided by the BIOS, which is output as a two digit hexadecimal code. Since each BIOS manufacturer has different codes and error conditions, there is no simple way to provide a more detailed account of the error. Once you know what BIOS manufacturer is being used by the motherboard being tested, it is much easier to look into the possible causes.
We recommend
http://www.bioscentral.com/ to determine the meaning of the POST codes.
When it comes to diagnostics, the PCI POST card is really best suited to testing systems that aren't able to boot properly. It will help you to identify possible errors with the motherboard or power. If the system is able to boot, then it is best to run tests in one of the test environments (Windows, Bootable Diagnostics, or DOS).
According to your picture, it looks like you may not be getting the correct voltage on the 3.3 volt rail. I would suggest pressing the button on the PCI card to cycle to the 3.3 indicator, and see what the power output is. If it is too high or too low it could cause problems with the system.
I'm sorry that I can't give you a better indicator of what the problem is, but I have found that the more you will find that the more you utilize the PCI POST card, the better you are able to understand the information it provides.
Please let me know if you have any other questions.
Thanks,
Kris