Sounds to me as though the eye is working as it should and as Lovetone suggests, detecting something in the breech and then reverting to "fault" when that object is not fired down the barrel as it thinks that there has been a fault e.g. burst.
Firstly, can you switch the eyes off (top pushbutton) and dry-fire the marker with no paint? If not then push on the back of your bolt and see if you have any resistance there caused by the marker having air-pressure in the rammer chamber.
A full service would cost £30 + parts, but as its an Ego10 make sure that you have registered it for warranty in our Warranty Centre (
https://www.planeteclipse.com/warranty) and we'll take care of you free of charge. If you need further assistance give me a call on (0161) 8725572 or email me on:
nick.t@planeteclipse.com.
Nicky T