
Your progress on the level will not be saved.
In a separate but possibly related issue, some players are also reporting their progress is not being properly saved, finding they have been sent back one or more levels when they reopen the app.
UPDATE, ~6:50 AM NST: The app now appears to be back up. Huzzah!
It's not just you! Starting around 8:30 PM NST last night, Faerie Fragments went down unexpectedly. Users playing at the time were given connection errors, and all users attempting to open the app since will get stuck on the loading screen.

You'll get stuck approximately here...
TNT have not yet commented on the issue. We'll update this post if they do, or when it's back up!