I had (what sounds like) a similar problem the other day as I was trying to update 12 apps. The first app requires iOS5 (which I do not have), and when selecting "Update All" at the top, the updading process gets halted by that first un-updatable app, and the rest of the updating will not go on. So, I decided to select the others by hand. Unfortunately, I didn't do them one at a time, letting each complete before going on to the next, but rather I selected each one right after the other down the list. Well... the pad just sat there with 12 apps variously saying "waiting" or 'Loading," and absolutely nothing happened thereafter.
I did have to reboot the pad to get out of that mess, and then returned to updating - one at a time.
Brian - Sent from my iPad using iPF