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The dmoz will need to update once your site has been listed with them for your site to be shown in the results. The last update took way way too long clocking in at around three or four months.
I am hoping they will now get back on track and update every 4 to 5 weeks but am unsure at this time.
As for google:
After google update occurs they then send out the googlebot and do a full crawl of the web searching for new sites and pages. This is when your site will see the benefit from being listed with the odp.
Brain
Usually the Google Directory is updated after the Google dance is over. You have to wait another month if Google uses an RDF dump that was made just before the new link in ODP was added. So I would say the waiting time is somewhere between 1 week and 1.5 months.
The search is *not* designed for keyword searching, neither will it find a url in the form www.site.com - if you want to find if it is listed, try searching on the site.com form of the domain name.
:)