In my haste, I deleted the Audiences that were still in "Collecting Data" State, but here are the steps I did take:
Run an Analytics report using the same conditions as the audience to ensure you're seeing data --> Yes this was done prior to the creation of the audience.
Check the tracking server on the site and contact customer care to ensure that that tracking server has been enabled for server side forwarding. Raw analytics data based audiences require server-side forwarding. --> Just finished chatting with client care and they will get back to me on this. Will update this string when I hear more.
Try qualifying for the audience yourself and triggering the experience (assuming you've got a Target experience setup to fire based on that audience membership) --> No Target Experience at this time, but next time I do come across this issue, I will try to qualify for the audience,
I suspect that this may be due to the limitation of 20 million unique members. The audience was simply someone with 1 or 2 pageviews and unique visitors would definitely exceed 20 million uniques based on the lookback selected. In your opinon, would that be one of the reasons why it remained in "Collecting Data" mode?
Also, the documentation states that 20 is the max number of Audiences that can be shared from Analytics. Is this the case for all Account types? We were told that 20 was the limit for standard users.