Here... take my hand
Ah yes, the dreadful blue screen of death!
What does this mean? YOUR PSP IS FUCΚED!!
Haha, jk. Actually the PSP Blue screen is not quite as harmful as the Windows Blue Screen of Death. For the PSP the red screen is equivalent to the Windows Blue Screen.
Just a simple app crash message. Hit Home and easily exit out of the app without having to reboot your PSP.
Why did it appear? Probably because the internal cheat system could not handle the advanced codes. It doesn't mean the code is bad, or that you used the wrong region or that they are PAR_v1 and not PAR_v3... it just means you cannot use those codes.
Delete the CHT file and smile and wave