I was watching netflix and all of a sudden it shut off and wont turn back on anymore.... what should i do?
Send it to Nintendo; they never kept my Wii longer than a week, and that's with ground shipping. Call for service at 1-800-255-3700. They usually have a 1-2 day turn around from when they receive it to when they send it back out. Tape a note to the unit to remind them to transfer your data, as they promise to make every effort, but won't exactly 100% guarantee data. They never sent me back a formatted console, but they've been incredibly busy with the Wii U launch, and I've read about some customers having received replacement Wii U consoles without any data.
I've seen, along my travels a YouTube video of a guy with a similar issue. He fixed it by taking the battery out of the console.
You could try that? I think it just comes out of a compartment held with a little screw so should be trivial to try out.