Today on "Why isn't this crap doing what it's supposed to do!?": This is the "1.2V rail" on this board. I've never seen a hot iCE40 before.pic.twitter.com/z04jZOs3cu
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Sometimes its dropping to approx. 1.5V for a few milliseconds. I don't think any part would be happy with this supply rail.
Schematic shows a 5V to 3V buck switcher and then a 3.3V to 1.2V Linear regulator. Are you getting 2.5V on the Switcher output?
I measured 3.3V on the input to the linear regulator (pin 3 on U10). The picture above is directly measured on U10 output (pin 2).
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