Found out what the problem was - somehow the power outage corrupted the configuration of the 5530 distribution switch that the above mentioned 5520 stack is connected to via MLT. On the 5530, the MLT configuration had vanished but the 5520 thought it was still MLT'd (which it was physically). Anyway, the broadcast dhcp discover from the clients were making it to the dhcp server, but the dhcp offer was not making it back to any clients that were communicating on one link of the MLT. Kind of hard to explain - if you are truely interested let me know and I'll go into more details. Anyway, as soon I recreated the MLT on the 5530, everyone started working again.
Thanks for the responses.