This exact same problem just happened to me. I would always leave it on the rainbow wave setting and one night it just started going completely haywire just like in the videos up above!
For a while I got it to work by keeping it on just standard constant backlight, although I would notice random bursts of the faulty lighting. Now it has gone completely black, and is no longer recognized by my pc. When I plug it into other computers, only the num lock lights up and it gets stuck on one input "ex: inpuuuuuuuuuuuuuu"
Seems like I also recieved a faulty MCU. Will I be able to RMA as well? I purchased this in late 2015.
Additionally, one of the reasons I did not want to RMA was because I have a gaming tournament coming up soon. Now with the keyboard completely unusable, I am in very bad luck. Is there any way of significantly speeding up the process? I am also planning on calling the phone line as soon as the clock hits 9am, but in case I can't get through I thought I would leave this post here.
Sorry to hear you experienced the same thing.
I just returned the faulty product and bought another type of keyboard.