Just to update the thread, i did some testing with the old I7-4790 (the one that wouldn't post and had the red led light beside the cpu with the 00 code) and put it on another pc with a z97 mobo and it posted and ran just fine, infact it was flawless. So this seems to be a motherboard issue for sure, For some reason the faulty motherboard can detect an i5-4570 just fine and post to bios and windows, it runs flawless (for the 30 minutes until the pc decides to shutdown by itself) stress test and everything works fine.
The issue right now is why does it detect and runs the i5-4570 but not the i7-4790 anymore (which has worked for years), i even tested with an extra working and identical i7-4790 and the same errors crop up. So something has happened to the point where it won't detect and run other cpu's while other specific ones like the i5 post fine. I wonder if something has happened to the socket like a bent pin, missing pin, or some kind of damage. That might explain the weird issues including the mobo going ballistic on the 30 minute timer even though the i5 works fine during that time limit.
Does anyone know if socket issues or something around the cpu area of the MB could be causing this kind of behavior?. It seems the i7 is infact not dead so something is definately wrong with the mobo since the same i7 runs just fine on another one with the same chipset, i can of coarse include pics of the socket if someone would be interested in them to check anything out of the ordinary. Any help is of coarse welcome.