The fault light I believe is a power amp limiter signal. Maybe use it on the passive input and don't turn up as much? How were you eqing? I've used mine with the same (if not higher) amount of volume and gain though a single 4 ohm cab and not had an issue but everyone's situation is a bit different so it's hard to say what's too much without being there.
I just checked the manual and the fault light is supposed to activate when the amp is overheating, and the recommend either turning down and/or making sure you keep the amp cool (out of direct sunlight, plenty of room for ventilation, etc). If the issue continues and you can't seem to deal with it otherwise (and the room heat doesn't seem excessive) I guess I'd say try running a second fan across the amp. If that works then you've found your issue. The warranty is 2 years on the amp so you could always try talking to ampeg CS and explain the issue. Excessive overheating on otherwise normal operating conditions may mean something is amiss with the head and they might need to swap it out. But I'd try to rule other things out before you go that route.
I just checked the manual and the fault light is supposed to activate when the amp is overheating, and the recommend either turning down and/or making sure you keep the amp cool (out of direct sunlight, plenty of room for ventilation, etc). If the issue continues and you can't seem to deal with it otherwise (and the room heat doesn't seem excessive) I guess I'd say try running a second fan across the amp. If that works then you've found your issue. The warranty is 2 years on the amp so you could always try talking to ampeg CS and explain the issue. Excessive overheating on otherwise normal operating conditions may mean something is amiss with the head and they might need to swap it out. But I'd try to rule other things out before you go that route.
Oh by the way ordered my second pf-210 cab last night.