http://forums.oracle.com/forums/thread.jspa?messageID=4269655#4269655
In principle (for 10g):
Your rebuild tries to take an exclusive (or possibly share) lock on the table and gets stuck waiting for current transactions on the table to complete.
All current transactions on the table complete, all new ones are stuck behind the rebuild lock
The rebuild gets its lock, prepares the MV log, starts the rebuild [...]

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