Your service is Suspended. Please make the required DNS changes. You can Cancel service or Edit mail settings

When I check my domain information at domains.live.com, I get the error message "Your service is Suspended. Please make the required DNS changes." Its then followed by "You can Cancel service or Edit mail settings". If I select the Edit mail settings option, I get the message"This will permanently delete the existing mailboxes of all users in your domain. All users will be able to continue to use their Microsoft accounts, but will permanently lose their communications data (mail, offline messages)." I do not want to permanently delete my existing mailboxes. So my question is - if I've updated the MX record information with my domain registrar, should that resolve my suspended service warning message?

Thanks,

Steve DeHaart

(*** Email address is removed for privacy ***)