I've seen it happen before. The chip readers will be the cheaper part to change but it's very possible you change them and it ends up being the junction board which is about $400 if I remember off the top.They're the old style cartridges. The problem started with just the Magenta, but eventually jumped to all colors. Would one bad Ink ID board affect them all?
Do you have the ID Boards and Heater junction board in stock, ready to ship today?