Linkstation Quad Fails to Up.. Red Blinking.. Should i freak out ?

[veeco]

Hello,
Today i found out my Linkstation Quad is fail to boot, the number 2 HDD is turn red, and the main blinking also turned red blinking. I'm using RAID 5 Parity Mode. Here's the visual look:
http://www.youtube.com/watch?v=tdbzmrXsSYM

Please tell me:
How bad is it ?
Does my data is safe ?
What flashing light code said?

... Should i freaked out ?

Thanks for your help

[veeco]

Really love to have any clue... anybody care to share ?