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Yup, the distribution channels are still in development stage right now - it's quite a long road between Smashwords supplying a bunch of ebooks and a store getting them catalogued, tagged and formatted to their liking. As all three parties (authors, Smashwords and ebookstores) get used to what's required, the process will speed up.
FWIW, B&N took at least 2 months to get DEAD(ish) into their store correctly, and at least another month to get it categorised. iBookstore had it listed within a couple of weeks of distribution. It still hasn't turned up in the Sony or Kobo stores.
Rest assured, it will get through - eventually. But much patience is required at this early stage.
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