Recall of 15 million (APC) surge protectors from Schneider Electric
(known sales period at date of this post was January 1993--December 2002)
U.S. Consumer Product Safety Commission (CPSC) reports over 700 incidents involving overheating and melting and/or property damage from smoke and fire in consumer and business facilities, and over a dozen smoke inhalation and/or burn injuries.
CPSC reports devices are labeled "APC SurgeArrest", and sold at consumer electronic and other stores.
The CPSC advises consumers to immediately stop using the recalled surge protectors and unplug them.
Search internet for more details and contact apc.com
for more information regarding specifics and possible replacement.
An additional technical note:
It should also be noted that surge protectors in general are NOT designed to provide the rated protection for a long period of time. In areas of poor power quality, or where you use electrical devices that impose large spikes and surges on your AC mains (for example heaters, toasters, A/C, etc) routine spikes and surges over just a few years can degrade the internal components to the point where a given surge protector no longer provides the rated protection to your electronics. Even a single major spike or surge can seriously degrade the protection provided by such devices. For example, if you've had a lightning strike near the location of the equipment (like down the street), it's wise to assess and consider replacing the protection devices at your location, or the next event may get through and damage equipment.
edit to add:
I have no personal or financial interest in any electrical protection equipment company, nor the sales of such equipment.