Currently, three Leave Open votes take a question out of the close queue and begin the aging of the existing close votes, if it had not already begun by the question receiving 100 views. When aging begins, close votes expire four days later.
This question received its three Leave Open votes and will remain open unless two other people go far out of their way to hunt down the question and throw close votes on it in the next few days.
I think that in general this system works, and seems to have worked in this particular case.