Their new "keyword suggestion tool" is great, it let's you suggest keyword for your own domains, but they must be related in some way to the name.
It normally takes around 24 hours before your keyword is reviewed and hopefully approved.
What I was/am still wondering is why someone would need to approve the adword.
Actually, I wrote to Sedo and this the response:
"You can abuse keywords by using loans to get more clicks for a sports domain. Loans brings a lot of traffic. We just have to make sure that people aren't trying to cheat the system. It takes approx. 24 hours to approve the keywords."