This is a capture of one of our HP ProLiant ML370 G5 health panel (not sure about official name of the panel):
Why are all memory banks LED all on? Is it caused by a faulty memory bank?
Here's the service manual you want:
http://bizsupport2.austin.hp.com/bc/docs/support/SupportManual/c00710498/c00710498.pdf
LED info is on page 91.
According to that, those amber LEDs do indicate faulty FBDIMMS.