It can mean a couple of things.
1. Orbitz got your payment and is still waiting IB for a ticket number.
2. Iberia is waiting payment from Orbitz
3. Orbitz is waiting for approval from your credit card.
4. Your trip cannot be confirmed/ticketed and you need to call Orbitz or your Credit Card
5. Your doomed and need to find another itinerary.
I hope you get good results and please let us know what is the upshot. BTW I extend a warm welcome to you and look forward to seeing you here on FT(: