What have you found out on this? I've got a similar problem. Mine hangs on the Android reboot screen instead of the Acer screen though. It appears to be related to a low battery state, but plugging it in doesn't help - or doesn't help immediately anyway.
I need to backup everything pronto. I have a Square Trade warranty, so I suspect I may end up with a new, non-Acer Android tablet. Will I be able to restore onto another manufacturer's tablet? I don't know enough about Android to know whether that would work or not. What's the best way to get my data and apps onto a new tablet when this dies for good, which will probably be soon. :?