if if won't get past the "Initiliazing" it means that the sensors are failing the startup test. You can try reloading the code, but I suspect your board got damaged in that crash.
the phrase "buy cheap, buy twice" springs to mind they certainly dont sound very durable, a bit shocking really
Just a warning for those considering the RCTimer APM 2.5 clone: for some reason they messed up the 32u2 firmware, and it doesn't come with the DFU bootloader (it just has some unknown version of ArduPPM flashed directly). So you won't be able to upgrade the firmware on that chip without using an ICSP programmer, which can destroy the board if used incorrectly (wrong fuses set).