Doesn't load past 'red eye'

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http://androidforums.com – My Droid 2 won't load past the 'red eye' screen. The red eye animation plays, freezes, and then the screen turns black. I can't get the screen to turn on from there. With it charging I can get the battery icon which shows a mostly charged phone. I also see the small green light blinking. Do I need to do a factory reset? I've tried, but can't get past the ! in a triangle screen. Pressing the volume up and cameras buttons together doesn't do anything. Help would be greatly appreciated, thanks! (General)