What does "submit for review" mean?

I am using wordpress 3.0.3 and when AI try to create a new page, I can only “submit for review” now, instead of “publish”. As the owner and administrator of the website, there is nobody to review my pages, and when I try to submit for review I get a simple message there are no posts. Nothing goes to my email for review. How do I fix this problem? Is this a bug resulting from the latest upgrade?