Yes, accidents have happened to our Nooks, too. Fortunately for us, no repercussions (so far).
Have you tried just attaching it to power (plugging it in to charge). It should wake it up that way. If not, there may be other issues that just the power button. Warranty still good? Take it to B&N for repair. No warranty? Yikes, I don't know in that case. Maybe there is a third-party company that can fix it for you. Sorry if this isn't much help, but I do empathize with you (hence this attempt to help).