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After pressing "Launch Instance" the openstack plattform should need a couple of seconds before your machine is running. You can see your machine in the "Instance" list.
Assigning a floating IP to the instance
Your freshly made machine lives on your own private network, created by you, and is thus currently unreachable from the rest of the world. To enable outside access to the machine you would need to assign a floating IP address to it. This is done using the Action menu:
If this is the first time you use a floating IP, there are probably no IP allocated to your project. To allocate an IP to your project you could use the small "+" button:
Select which network to allocate the floating IP from. At the time of writing there are only a single network available (ext-net), which is an RFC1918 network which is only available from inside the cloud environment.
When an IP is allocated, it can be Associated to a certain VM:
At the end the "Instance" list should display both the internal and the floating IP.
How to actually access your virtual machine is described in another guide, which is yet to be written.