2V is a very hot output. Have you tried a different source to see if the CD player is clipping the input op-amp? The red lights you described definitely indicates the amplifier is protecting itself. There are only 3 things that will cause the amp to do this:

1.) Incorrect wiring at the amp (which you have already checked)
2.) Impedance lower than 8 ohms. The amp is stable at 4 ohms in "Normal mode", but must have an 8 ohm load when bridged
3.) Clipped input signal.