The new Xbox 360 'slim' has in-built shut down mechanisms to prevent permanent damage and the 'red dot of death'.
Photo's of the Slim shutting down due to "insufficient ventilation" indicate a new method for the console to protect itself.
As you can see in the photo here, this time instead of seeing the 'Red Ring of Death' users will see the 'Red Dot of Death' as well as a warning message.
The important bit, however, is that it seems red no longer means dead for the 360 since the warning message states, "You can turn the console back on after the power light stops flashing." Phew.
It's still yet to be seen how prone the Slim is to problems a little more serious than a bit of heat, although Microsoft has said that it has fixed the Red Ring problem completely.