I tried (unsuccessfully) for over a month to get "verified".  I sent three inquiries asking about a status update, the most recent today.  I never heard anything, though a support ticket remains open.

Today, I decided to look to see if others have problems and I found this thread.  I also found where the BBB gave Bulbul an F rating: http://www.bbb.org/atlanta/business-reviews/business-services-general/bulbul-investments-in-alpharetta-ga-27474482

Apparently, Bulbul will not respond to BBB inquiries, either.

I saw the Fox News article referenced in another thread.  In that article, it mentions the fact that CampBX registered with FinCEN.  Indeed, they did, but they are apparently not registered as a currency exchange.  Go here:
http://www.fincen.gov/financial_institutions/msb/msbstateselector.html.

Type in "bulbul" as the "Legal Name".  You'll see they are registered as:
    405       Seller of money orders
    408       Check casher
    409       Money transmitter
    499       Other

So, will they have issues operating a currency exchange when not registered using code:
    407       Currency dealer or exchanger

Seems like the last one is most important.

Yesterday, the IETF published the WebFinger protocol specification as RFC 7033.  What WebFinger does is allow one to discover information about a URI, such an "acct" (account) URI.  An "acct" URI is one that looks like an email address and is intended to identify a person's account at some service.  Users do not usually perform WebFinger queries directly.  Rather, they are issued by software applications that are looking for particular pieces of information.  For example, a bitcoin wallet application might issue a query to retrieve a bitcoin address for given an email-style address like paulej@packetizer.com.

I wrote a blog post about this that contains more information: http://www.packetizer.com/people/paulej/blog/53

This is a capability that the Bitcoin community has been discussing for several years.  Now that the spec is complete, it's probably time to start formally discussing how WebFinger might be used with Bitcoin.  The blog post shows three possible ways it might be used (static address retrieval, payments API, and dynamic address retrieval).

Cheers!
Paul