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About the only thing I can think of is that most panels use a 12V (or 10V) regulator to take the cars alternator O/P and regulate it down.
These can go bad and stop instruments working.
But that said they were usually only placed in line for Tacho, Speedo and fuel & temp...so they would not vary when voltage from the alternator varied..aka you speed up. This regulator is inside cluster..behind one of the instruments.
I don't think they would be used to run V+ for warning lights though.
You can usually pull out the relevant instruments by undoing screws or small nuts at the back of the cluster.
Hope this helps...a pic when taken apart..and or numbers from the ICs tells a thousand words.
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