I had the same issue after I had new tab for about 6 weeks. The power button in the side would turn orange for a couple seconds and then flash white. I returned it to Acer and they replaced the battery (I think) but it had worked fine sine then. That was when it was running 3.1... Send it back if its under warranty.
They did ask if I has another charger to it and wanted to ensure I sent back with the tab as well.
Good luck with Acer...