It's back, and this time with vengeance. Seems this time around that the actual Broadcom chip itself is photosensitive, having the flash 6-8" away consistently crashes the pi unless the chip is covered.
Alright, my bad, as pointed out below it was covering up U16, when I tested U16 it must not have covered it properly, it is indeed U16 causing it, the passives must be covering it from the far side and the light was just coming in from the middle of the board, so despite saying they were going to fix this exact issue after the Pi2 they have failed to do so.