Yes it means that you finished form 186 and they are waiting for your college to reply them with verification of your credentials.
For further details check this http://www.usmle-forums.com/ecfmg-forum/362-ecfmg-registration-steps.html
For further details check this http://www.usmle-forums.com/ecfmg-forum/362-ecfmg-registration-steps.html