I'm not surprised if you don't hear anything until February. In the short sale process, banks don't look at the file UNTIL an offer is presented. So most of the waiting game is getting that offer. Then the bank will look at the file and see if it financially makes sense for them to accept. There may be some more negotiating involved, or they may want to wait for another offer. The short sale game is one for patient people that don't HAVE to buy, but would like to get a good deal if they can wait it out.
My fastest short sale was 22 days from package sent, to accepted. But you have to take into account that I submitted the package as the buyer and also put in the offer. So there was no waiting for an offer, or making sure the right paper work was filled out. We did it all immediately and stayed in touch to make sure things went perfect. There was a lot of other things I did that most people won't be willing to do, but when a homeowner is in need, I gotta pull out all the stops and make it happen.
It's possible, but usually not likely...
If your house needs work and is a short sale, I'm much more likely to get my offer accepted in a more timely fashion than any agent could, unless of course they are buying it themselves and have done the number of short sales I've done to know the ins and outs.
Hang in there, and stay in touch with the agent.