My Capital One transfer was not instant either, even though I got an email from Capital One immediately saying that they were transferred. I could see that on the LifeMiles account overview page the transfer was done but the miles were not available to be redeemed. I emailed LifeMiles and this was their response:
For future references, keep in mind that when you purchase miles or transfer points, our system is usually updated at 00:00 Colombian time which means the balance and validity are synched after such time frame. In other words, you'll be able to see & redeem your mileage when the data is synchronized.
They became available for redemption around 00:45 Colombian time (or Central Time for those in the US). Fortunately my flight was still available so I was able to book it.