You're lucky to have only had to wait an hour or so. It's been over 24 hours for me that my transaction to BTC-e is on hold... It's only a small amount too so I doubt they're investigating it for fraud (especially as my account has been verified for months). It seems they're quick enough to accept money in, but when it's going out of your account everything is on a go slow.
If anyone has any suggestions for getting money into exchanges from within Europe I'm all ears. I was trying to buy into Litecoin when it was around $0.8 we're now over $4...