This applies to hbase versions 0.96 and 0.98
When the compaction started and the state of HBase Compactions can be gleaned from: <hbase.master.ip>:<hbase.master.info.port>/dump i.e. 10.4.4.40:60010/dump
in a section called
servers:
<hostname>,60020,1406845954503: ...<other stuff here>... totalCompactingKVs=9121040186, currentCompactedKVs=14351361679, compactionProgressPct=1.5734347,...
compactionProgressPct gives the percentage of completed compaction that you are currently deploying.
Here's a much friendlier way to view images:
http://<hbase.regionserver.ip>:<hbase.regionserver.info.port>/rs-status#queueStats
This will give you statistics that look like this: 
source share