[Boris]

I don't think it's an easy fold at all. Even if both players opened their hand face up, you are ~1.7:1 to make a flush with two cards to come. The presence of third player in the pot gives you a pretty big overlay here. I'm not sure if giving up your pot equity in this case is worth the reduction in downside risk you get by folding. Again, I say this with the caveat that you are not near the end of the tourny. If you can fold your way to a seat then just muck the hand pre-flop.