It is alive! I've powered it from the Amiga now and it is working perfectly. Initially the image was a thin strip in the middle of the monitor and very dark, but a quick fiddle with the geometry settings and it revealed the sides, and as it did the colour and brightness sorted themselves out.
So yes, powering it from the Amiga port seems to work perfectly. And I'm very impressed with the image quality so far. No distortion, no noise or snow others have reported, when I think, along with reports of a pink screen, are all to do with over voltage to the board.
When powered from the standalone PSU the board would power up OK. I never had a problem with that and could see the chinese characters and then access the menu. But the board would then freeze a couple of minutes later and need to be restarted, which I'm now thinking was due to too much voltage.
Anyway... it is all working now.

The cable I current have made up looks a complete mess as I was experimenting to get it working... I connected the boards power cable to standard molex connector to make it easy to connect up, and joined a molex cable to the Amiga port 5V out so that can easily be connected and disconnected.
I am now wondering if the VGA port will work as it was acting exactly the same way and could have also been due to the over voltage. For that it would be better to use external power though so I still need to source a good 5V 2A PSU for this board. Anyone recommend one?