Dell PowerEdge 2600 Server "light fan keeps blinking" Questions

...keeps blinking which implies it's still in the standby state. I'm assuming the server is in some sort of 'ready' state for IPMI poweron but I can't think of any way to get it on. Does anyone know how ...

...means a component failure. I had a cooling fan failure and this caused the orange light. When there is a failed fan the other fans RPM is increased to compensate. Is the server fan noise