Well... now that we are back up, I can admit what happened...
In a move to fight the constant spammers from registering phoney accounts just to spam the forums... I tried to implement a system that required administrative approval before a user could be activated as a registered member.
Unfortunately, due to the amount of tweaks that I have on this site... the module/hack broke the YourAccount module.
In attempting to repair the module using a backup from our host (they have an automatic backup/restore system built into the control panel..) it errored out midway through the restore.
In throwing my hands in the air, I decided to do a full site restore (with not touching the database) of the site files.
Well that crashed midway through the restore also!
So that I just spent the last 2 hours restoring each file manually.. but I think we are back up to 100%.
So, it was my fault... not Jordan's