I signed up with CC tonight and uploaded my images via FTP. However when I click the "process" button I get a 404 error and now the site won't come up at all. Was there a schedule down time that I don't know about?

Working for me, but it looks like they had an update.

yeah we rebooted a server but turns out that the network that we use was at a standstill.  its up and moving along quickly now.