Regarding hardware failure, I agree with Keith that case 4 should be considered.
But that's only part of the problem. There's also a possibility that the µP seems to service the outputs as expected (e.g. sending a watchdog trigger sequence) but is no longer acting on input conditions due to software faults or corrupted binary image. So software safety must be included in a failure analysis. There are different standards for software safety and respective compliance requirements in application specific standards.
For moderate requirements as probably applicable for emergency lights, repetive RAM and ROM integrity check (CRC) together with an external watchdog forcing a safe state (e.g. "light on") might be sufficient, or software safety is simply ignored in the regulations.