very likely
I presume you are using xara online? - as far as I know they would set the DNS for you when the domain transfer is complete.. but I don't use them myself [being a wordpress sorta guy] Gary would maybe know better
godaddy do not have a reputation for being fast [he said diplomatically] and both xara and godaddy have to agree before it can be done - I would chase them, politely of course
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