It may mean that it should not have been imported at all. You'd be surprised at some of the things that can't (paintball accessories, fireworks, some perfumes)
What company is the item with? If it is with Canada Post go to their website and check the number. Perhaps they have more up to date information.
BTW, 'being held' may not be totally accurate. That was the last place the item was recorded. It could be anywhere.
Go to the local Postal Outlet with your tracking number, it may be on a shelf there.