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Answering your first question, it is possible to use standard ATX PSU with the W2600CR2. However, here the Configuration Guide where you can find components for your system.
The amber light helps to have a more accurate diagnosis during an issue. Here the Technical Product Specification, in page 125 you will find System Status LEDs.
Now about the video output, let me suggest getting Chassis Maintenance Kit [FUPLESK]. In this kit you can find included: 1x front video cable, one 14 pin header to one DB15 header, 1100m.