I just mentioned it because it appears there is chemical scaring on the copper plates of the mother board.
Don't think he has that problem.
I just opened the picture in a new tab and enlarged it, the Caps seem to be fine, no bulging.
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Optical drives are cheap on Ebay, or from china, I ordered one a few years ago, shouldn't be more than about $20-25.
But first try to get it to boot.
Do you know someone with an external dvd drive, if so borrow it and try to boot from the install disk, that is, do you have the install disks, if not it would be bit harder.
Are there any people around you with macs, if so ask them if you can boot of their Laptop, must be a PPC though, I am not 100% sure but if you put that PPC computer in Target disk mode it should be possible to boot of that one while connected through a firewire cable, again I am not sure if this works.
Simplest way is to get an external DVD drive and boot from Install disk.
The second light blinking is probably due to the fact that there is no disk to boot from, so don't worry too much yet.
EDIT:Just Googled a drive, about 8 dollar but I would suggest better ones than that, this is not a super drive.
Ebay Optical drive
EDIT 2: Or this one second hand, don't know though 100% if fits, most of the time they are all the same.
Superdrive secondhand
EDIT 3:
More on the internal LEDS(Apple site)