Quoted from Dent00:That green round device is an MOV (Metal Oxide Varister) and they are designed to fail to protect items that are inside the machine. So, if there was an abnormal voltage event of any kind (lightning, floating neutral, utility spike, etc, etc.) that device will fail and make a sound that could be what you heard. It could also have just failed during normal use, which happens sometimes. They are relatively inexpensive, but it probably just as easy to purchase a new line filter if the MOV inside has failed. If Stern provides you with a new one, it probably not a big deal to replace it. Just make sure that you unplug the machine before working on it. I would also check the voltage at your outlet to make sure that is within about 10% of 120 Volts. If the voltage at the outlet is high, like around 170 volts, you could have a floating neutral or some other problem that damaged the line filter and a new one could be damaged in the same way.
Just to make sure what you wrote is clear to the thread starter, the line filter is separate from the service box. If there is a replaceable MOV it is not in the filter part. In this case, spike 2, the emi filter is essentially the power cord receptacle and emi filter combo assembly and outputs to the service box which probably has (or may have) a varistor in it.