Exciting new features have been added to iTunes Connect to help you track your app during the approval process.
“Waiting for Review” status added
A new status called Waiting for Review has been added and will appear after your binary has been uploaded. This status means that your app has been added to the app review queue but has not yet begun the review process.
Receive notifications automatically
You can now opt-in to receive email notifications alerting you each time the status of your app changes. Visit the App Store Resource Center to learn how you can choose to receive these notifications.
View a complete history
As of November 9, 2009 all status changes will be logged in “Status History” which will appear with your app details in the Manage Your Applications section. This new feature allows you to see a complete history of the changes in status made to your app.