I meant to say the power supply was stone cold as well, and thanks to every one that replied.
Anyway the mystery of the failing HG612 has been solved.
Cause:
and effect:
I checked the modem today when I got home and noticed the sides of it was wet, which was odd as I couldn't see any water until I looked at the ceiling
Stained patches and a single drip, so I quickly whipped the power supply out of the modem. Investigation in our en-suite above found the valve for the sink leaking slightly and running down the pipe
So it was a case of turning the water off at the valves, getting out the spanners and fixing the leak. The strange thing is that both sides of the modem were wet, yet the top/bottom was dry (as mounted on the wall). I took the modem apart just to make sure it was still dry inside, which it was, so also updated the firmware to the unlocked GUI version.
I've got a towel wedged up on some trunking which runs around the top of the wall to collect the rest of the drips, just going to have to keep an eye it, it's going to take ages to dry out.
I also checked the power supply output, and on my cheapo DMM it was showing 12.02v.