As for oojacoboo's suggestion, a full logic board reset which includes removing the clock battery and the regular battery should be done. They typically take little bit once all of the power is removed, like 10 minutes. It occurs in less time, but such things should not be rushed.

You have probably done this or you would not have posted, though you never know.

If that does/did not work, then it's most likely the processor as you suspect. There is no Tiki dance that I know of to resurrect the card that you have not already tried. The only other thing I can think of is to check all of the traces on the logic board itself. Something else could have fried and you may not be aware.

'Tis a sad fate.
MacBook 2GHz Intel Core 2 Duo w/ 2GB DDR2 RAM & 120GB SATA 5400RPM HDD
Canon Rebel XTI
Google Cr-48 Beta Laptop