Yep, it's still in the approval process
It was rejected for using an undocumented API call (the function terminate() to kill the app, nothing sneaky
). That particular function call has been in iCam from the beginning, but I guess Apple is using a new automated test for catching calls to undocumented functions. The fix was submitted about 5 minutes after we received the rejection, so it'll probably be another couple weeks before we hear whether the fix has been approved.