I asked apple and got the following response:
Thank you for your e-mail. Though the app has been approved, it looks like the contract clearance/setup is still pending.
FYI - For a contract setup to be complete and cleared to sell content (we call that "In Effect"), each contract must complete 2 parts of setup:
1. Legal processing (where you click through and agree to the various agreements)
2. Banking & Tax info setup (banking/tax info entered into systems, accounts verified, payments setup, reports generation setup etc.)
Once part 1 is complete (which it is for your contracts), you can begin delivering Apps through iTunes Connect. However, the content will not go live unless step 2 is also complete.
Please note: every time new app is uploaded, it must clear review. You can follow the status of your app review in the "Manage Your Applications" section of iTunes Connect.
Part 2 and the app review are not automated processes. Because they are done manually, they can take several days/weeks depending on the volume of items in their queue.
Once both parts of setup and the review are complete, any content that has been cleared for sale should appear in the iTunes Store. Your continued patience is greatly appreciated, and we hope to have good news for you soon.