If your account shows up as 'pending approval', it was flagged for manual review before going active. It may take a little while for that to happen. The process is part of our anti-fraud system we had to implement awhile back. It is an annoyance to any legitimate account owners who get flagged but it is necessary, unfortunately.
You can write into our support team (firstname.lastname@example.org) to find out the status.
- DreamHost Head Honcho/Founder