Thanks everybody for the suggestions. I finally "reversed engineered" AWS console javascript code and he it is:
> AWS.ioc.Configuration.getInstance("/ec2/instances/rebootInstances#controller").subscribe("changed",
> function() { var o =
> m.dataTable.getRecords(m.dataTable.getSelectedRows());
> m.dataTable.setColumn(o, "instanceState", "rebooting");
> i.rebooting.fire(o); YAHOO.lang.later(60000, m.dataTable, function(p,
> q, r) {
> m.dataTable.setColumn(p, q, r);
> i.rebooted.fire(p)
> }, [o, "instanceState", "running"], false) });
As can be seen, it's just a timeout of 60 seconds (60000 ms)...