All machines have stop buttons, and this machine has an unsafe one. If this machinery is capable of causing injury, then its wrong. You can go to court to defend your non-action, or you can fix it as soon as possible. Send your boss an email outlining the violations to CYA, then it's on them, but for the sake of the actual fingertips involved, hang your freaking padlock on the machine and tell it's going to be down for an hour, and when you power it back up, explain how the new reset button works.
What are they going to do, make you put it back? Refuse.
I have been in this situation, and kept a machine down over 24 hours. It didn't harm my career at all.