I think no matter what you lost some money from cancelling an order because SR still keeps commission, unirregardlesser of whether or not the transaction goes through. Hedging simply has to do with pegging the dollar amount to the BTC value (ex. You buy an order costing 1 BTC when 1 BTC= $103.37. Your order doesn't arrive and it so happens the BTC value doubled to 206.74 in the meantime so your refund is 0.5 BTC. That's if it's hedged. If not, you just made $103.37. Congratulations.)
OP, is the product something you really want? Is it at a really great price? Contemplate these things. If you decide it's not worth your time anymore, cancel the order. If its something you really want because its a new vendor price or rare item or whatever, give it a few more days. Those days may seem like a long ass time so I suggest 2-3 days, and no sooner...just my thoughts.
Silk Road does not take commission on cancelled orders. Commission is deducted from the final amount when the order is finalized before it is paid out to the vendor, not when the order is placed.
Libertas
SR doe's keep something as I cancelled an order recently from my buyer account and got back less than I paid.
You keep the hedging fee then if I'm not mistaken if the buyer chooses to utilize it (which most do) ?
The buyer doesn't choose to utilise hedging or not. The vendor sets their listings to hedged or unhedged, so the vendor controls that aspect of a purchase. If a vendor is hedging their listings then buyers do lose the ~4% hedging fee on cancelled orders, just as vendors are charged the ~4% hedging fee when the order is finalized.
http://dkn255hz262ypmii.onion/wiki/index.php?title=Seller%27s_Guide#Escrow_Hedging
You can expect a loss of about 4% of your normal payment when using the escrow hedging feature. This is due to the fact that, both when hedging and unhedging, you will lose the bid-ask spread between the available orders that can be used to fill your hedging order.
The buyer is the beneficiary of hedging when an order is cancelled, therefore the buyer covers the hedging fee. A vendor is the beneficiary of hedging when an order is finalized, therefore the vendor covers the hedging fee. Silk Road gets is not the beneficiary of a hedged order, and as we are not the beneficiary of hedging we do not cover the hedging fee.
It is not kept by Silk Road; it is used to cover the cost of the bid-ask spread between the available orders that can be used to fill your hedging order. That is why it is ~4% [circa. 4%], and not a set figure. As it is charged both when hedging and unhedging, it cannot be calculated into the "expected" amount shown that a vendor is set to receive when the order is finalized (unhedged).
Libertas
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You need to take the order to resolution; that process is clearly explained in the FAQ section of the Wiki.