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So you have 12v on one of the yellow or red at all times and the other has 12v with ignition key on or switch on correct?
Next please check the black wire to make sure you have a good ground if those 3 are all fine then check the fuses if good then replace the radio as repair would cost much more then replacement.
The fuse is on the outside rear of the unit only. If the unit does nothing at all it is most likely in the power supply circuit. This is a more expensive one, jenson are cheap units and do break often, however this unit could cost you more to repair then replace, its not $490 anywhere I find all the ones I have located are under $300, http://salestores.com/jensenvr185a.html, the other problem is usually you cannot find parts for these models.
Otherwise I would also consider replacing with an aftermarket radio.
Most places will not even repair a jenson unit due to the cost and parts are not available.