"Pending Auction" means that all those NameJet members that backordered that domain will be waiting for it to move from the "My Backorders" list to the "My Auctions" list. From there you will compete with other members who backordered the domain.

So you had it backordered, now it is moving to auction. If you are the only person who backordered it then you will get it once it moves out of "Pending Auction" status. It can hold in the "Pending Auction" status for quite some time.