Note: When I had this problem originally, I wrote a letter to HP's CEO, and also got to their support. They sent me a new color printer (M451dn) with an extra set of color cartridges and I sent back the old one with the pre-paid voucher.
I also let people know I had an extra formatter card which I had bought which could probably fix the problem. Nobody seemed to want it.
However, the bottom line is that HP took care of me at that time.
DOn't know why somebody is getting the same problem unless they're installing the older corrupted update.