Todd
5 volts of less isn't going to burn a bug.
you probably had a cap burn up, likely tantalum.
Oh, but come on -- Don't you think it's possible, depending on what kind
of bug, I guess -- it sat, and baked? VRMs get pretty hot -- burn your
fingers. It could have died first, then baked like a jiffy pop.
Bryan
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There is a well known issue with capacitors. The problem ones end up
with the tops swelling out from the internal pressure, commonly called
bulging.