You can see what is currently being downloaded by looking at the thread list in the main window. You can see that a thread is currently downloading a file if the file's name appears in the thread entry in the thread list.
To check what downloads you have selected but are not yet being handled, you need to go to the status bar and select the Queue tab, or alternative, choose the Queue entry in the View menu. A list of pending downloads will be shown in the header list.