Motorola Defy stuck in animation loop with CynogenMod7

I have installed CynogenMod7 (Jordan) on my Motorola Defy using ClockworkMod Recovery. The phone boots up, first with a screen saying "Google" and then an animation of the Android mascot skateboarding into a cyan circle with "Cyanogen7(mod)" appearing at the bottom. The phone then goes into a loop of this animation - the mascot skateboards in, the circle and name appears - repeat. I have been unable to enter "fastboot" mode (by pressing power button along with volume up+down keys). I did do a back-up of my previous ROM onto my SDCard. What should I do to fix this?