I've submitted an app for the App Store via iTunes Connect, and the status is "In Review." I don't know if that means they actually started looking at it. I suspect it just means that it's been put into a reviewer's queue.
There's a tweak I'd like to add to it before it goes out. However, I don't want to update it if that means that hitting "Reject Binary" automatically sends it to the back of the overall queue again, and it has to wait another 3-4 weeks.
I realize that it's likely that no one knows how this works, but I figure it doesn't hurt to ask.