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The failover area in the AAI enable you to revert a failover configuration to a standalone configuration, recover from a situation known as "split-brain mode", or check the failover status.
These topics are covered in detail in Failover Configuration Guide for Cisco Digital Media Suite 5.4.x:
http://cisco.com/en/US/docs/video/digital_media_systems/5_x/5_4/dms/failover_guide/dmsfailover.html