I would use this MC pretty quickly. It is still viable but the low pH has killed some/many of the bacteria. Or just pitch it and make another one. Without a pH meter, if you get whey when making a MC you know that you have ripened it too long and it's likely a little too acidic. Better to be a little under ripe than over.
1% to 2% is a good average start for a MC, but you can always control the outcome during the make. For example you can add just 1% MC and then let it ripen an extra 30 minutes before adding rennet. Since the bacteria will double their population during that 30 minutes, you have effectively added 2% before rennet anyway. THAT's how I would treat your over ripened MC. A pH meter helps make better decisions when doing things like this.