I logged on and 1) cannot access any of the items in my infinite storage chests, and 2) ALL my livestock is gone (except for 2 cows and 1 sheep).

This is a serious building and economic (especially wool) set back.

The infinite storage chests (i.e. TradeCraft) are down for the moment (edit: they're back) but will be back for a limited time so that you can get your stuff out. See http://minetown.net/forum/m/672632/viewthread/2552506-tradecraft/page/1

Not sure about your livestock.