Afaik, if Any of the protective circuits are tripped, the psu becomes effectively dead until reset by power cancel, as in unplugging and waiting or manual off switch and waiting. Turning off the OS, doesn't turn off the psu, just puts it into power-on-Standby mode. As long as power exists inside the psu, it will Not reset, a safety feature designed to prevent the psu from becoming an arc-welder.
The white goo is purposely there. It's a non conductive goo dumped almost haphazardly around inductors to help insulate, absorb and prevent low frequency harmonics of coil whine. Coil whine is Always present, it's unavoidable, but also so high pitched it's beyond human ability to hear. The harmonics are a different story and can be easily phased so low, they become audible, and annoying. So the goo is a rubbery insulator meant to help prevent that.
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