If the reexamination is ordered (which it was on 10/16/07), the patent owner will be given two months to file a response (NeoMedia did not file a response). Thereafter, the patent is reexamined according to the general rules and procedures governing examination of applications for patent. At the conclusion of the reexamination, the PTO issues a reexamination certificate canceling any claims found unpatentable, confirming any patentable claims and incorporating any patentable amended or new claims.
I would expect a decision by either March or April.