I think you can orbit the star. I do not think the jets from the black hole are hitting the star and I do not think the accretion disk reaches that far; in any case it is a plane.
You can orbit such that the mass of the star is interposed between you and the black hole, if you are worried about unpredictable radiation from the black hole or distant consequences of the accretion disk. This orbit would be at the L2 Lagrange point (if the blue one in the picture is the star) or the L3 (if the yellow one is the star).
The mass stream from the star to the black hole occurs between those 2 bodies: stay out of the way of that. Radiation from the black hole would be bad, but from the viewpoint at the L2 Lagrange point, the black hole is eclipsed by the star, which shields you.
In my rediscovered enthusiasm for this concept, and after reading the deleted answer by @Youstay Igo I wondered, notwithstanding the hole, how hot it would be from just the star at the Lagrange point.
I found a Lagrange Point Calculator.
Here are the values I put in and the distances of the various points.
I put the star at 23 and the hole at 14. That means the L3 point would be shaded from the hole by the star. That L3 is only 0.35 AU from the star. Mercury is 0.39 AU from our much less energetic sun.
I found an article estimating how close the space shuttle ("similar to our own") could come to our own sun without cooking.
Riding in the space shuttle, though, someone could get much closer to
our star. The ship's reinforced carbon-carbon heat shield is designed
to withstand temperatures of up to 4,700° to ensure that the
spacecraft and its passengers can survive the friction heat generated
when it reenters the atmosphere from orbit. If the shield wrapped the
entire shuttle, McNutt says, astronauts could fly to within 1.3
million miles of the sun.
13 million miles is 0.015 AU. I had a hard time finding how much more energy than the sun HDE 226868 puts out; O type blue supergiants are very hot. 20,000x the sun is the low end. Maybe multiplying it out is too simplistic, but 20,000 * 0.015 = 300 AU. So 300 AU proximity to this giant star = 0.015 AU to the sun. That is 1000x farther than the L3 Lagrange point!
Maybe the explorers would be better off at L2 in the cool shade behind the black hole. At least the hole does not kick out the thermal energy like that. They can bring osmium shielding against the hard radiation.
How to orbit at L2 in full view of the hole when, as per @kingledion, "So the hull of our ship will increase by about 3342 K per second as it provides enough shielding to protect us from X-rays.". I am thinking aikido - redirect your opponents momentum. Let us use xrays to negate xrays.
Xray diffraction turns on the priniciple that some crystals absorb and re-emit xrays such that there is constructive and destructive interference between the rays. Areas of constructive interference have much more radiant energy. Areas of destructive interference, much less. Ideally, there is no net loss of xray energy (as heat!) - it is just a reallocation of energy.
I propose that shield made of a crystal with these xray diffracting properties could be used to reroute the xray energy, allowing it to travel by without heating up the shield, ship or explorers. The explorers and ship, needless to say would be hiding in one of the dark areas of destructive interference.
This would take advantage of the shade of the black hole, absorbing the radiance of the star. It sidesteps the problem of xrays from the black hole by routing them around the ship.