Server lock-up, fsck after reboot

After locking up for whatever unknown reason, my dedicated server shows the following after rebooting:

It has been stuck on this for about 2.5 hours now. It shows no progress indicator of any sort but the disk light does flash. After being in touch with my hosting company, I had been offered the option to "boot it with a Linux Live CD and do the fsck manually to see if there is any difference".

Before I give them the signal to give it a shot, I want to know if it is safe to abort or terminate whatever the server is doing at this point. It is a production service and all our products are offline. The data on there is delicate and we at all cost want to avoid losing it.

What am I to do best? Cancel fsck and do it through a live CD, or is there any way to tell what it is doing (if anything) and how much left?

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