That LN2 button can be confusing sometimes. I am still not sure what it really does but when it is enabled it can be indeed prevent your system from booting unless it is not under extreme cooling condition with at least single stage compressor cooling.
this behaviour is "caused by design" so just turn it off and you are fine.
The Z-boards should come with the jumper set to "off" that might be better. I usually don't even use it when benching cold on SandyBridge as it gains me nothing. It was more helpfull with Gulftown on RIIIE/BE
😉
now benching on: LN2 | 3770K | Maximus V Extreme | 2x GTX 580 Matrix Platinum | SSD | Cooler Master 1500W
Proud to be ASUS PowerUser!