can't reach console mode TTY + nvidia current

Discussion for more information

https://answers.launchpad.net/ubuntu/+question/197677
Link

Status changed to 'Confirmed' because the bug affects multiple users.

I am experiencing this same problem with Ubuntu 12.04, stable kernel 3.3.6, and NVIDIA driver 295.49 with GPU NVIDIA GeForce 8400GS. I arrived at this configuration as a result of instability caused by the stock 12.04 installation. I first had to install NVIDIA 302.07 beta driver after I experienced crippling repeated compiz crashes (was initially running onboard GeForce 7025/nForce 630a but since upgraded to the GeForce 8400GS). The 302.07 beta driver appeared to fix the compiz crash, as it appeared to be a bug in the NVIDIA 295.40 driver that was the cause. However, about a week ago after performing recommended Ubuntu software updates including a kernel upgrade, I started having multiple applications crashing in sequence and frequent system freezes where nothing was responsive and a hard boot was required. I upgraded to kernel 3.3.6 tonight after reding some forum posts of others having similar problems, and this wiped out my NVIDIA 302.07 driver and defaulted to the VESA driver at lower screen resolution (I have a 1920x1080 LCD monitor). I was able to install nvidia-current which is now version 295.49, however I cannot see my text terminals when entering from desktop with Ctrl-Alt-F1 etc. (only enters black screen with a thin magenta bar across the top of the screen as described above), and I cannot enter grub by holding Shift at startup. I have tried purging and reinstalling grub, I have tried editing grub config to manually set screen resolution, all to no avail. I would like to reinstall the 302.07 beta driver and build a kernel module for this kernel, but it appears I have no way to enter Recovery mode or text terminal to turn off lightdm and run the NVIDIA installer. Any help fixing the grub screen resolution so that text terminal is visible would be greatly appreciated.