Yes, It is on MSFT side not on yours. Started at 4:30pm EST for me. Go to service.live.com to see the message.
Problem We're having problems signing you in to your email on some mobile devices or with some programs. You might see an error message if you try to sync your email and calendar using Exchange ActiveSync. September 04 5:46 PM
Yes...looks like they have some server issues. My outlook.in account is not syncing from last two and half hours.
Sent from my Lumia 525 using Tapatalk
Yep, sucked but was good to see it recognized as an actual issue. Odd that it took 5 hours after I started experiencing the problem for it to become a bigger issue.