Sometime it does take time to update in Archive explorer.  Hope you have tried refreshing the page ..
Make sure you right click on the left hand side and right hand side pane in the arhive explorer and hit refresh

These sound obvious, but;

1. Have you set the "Update archive location for items moved in the mailbox" in the Mailbox Policy?
2. The owner of the mailbox where the copy is made must have read permission on the archive folder where the item originated.
3. When you moved the shortcut from Folder A to Folder B, did someone delete the shortcut in Folder B after you moved it or is it still available in Folder B?  If the shortcut isn't in Folder B then it won't update in AE.

@ RahulGThis is 12 hours after the over night archive and move items run has finished, so id expect it to update archive explorer in  that time.

@Batmanfail

1. Yes theis item is set in the mailbox policy
2. the emails has stayed in the same mailbox, its literally gone folder a to folder b so there isnt a permissions issue involved
3. the shortcut still exists in folder b, and in the moved items log over night you can see it has updated the folder location with the shortcut that has been moved, its just not reflected in Archive Explorer!!

Thanks guys anything else you can think of?

some more useless advice then ;)

1. Are you sure you're not in Read Only mode? Duh
2. Make sure the Archiving task is not set to "Run in report mode"
3. What compliance mode are you running on the Centera?  Are there any errors in the Event logs for storage?
4. Check the users index has not failed (I believe the move is only updating the location in the index so it shows correctly in Archive Explorer and Search).  Maybe rebuild the index?

I believe the moves use A6 in MSMQ, so keep an eye on that queue if you can?

The Centera - If you are in Compliance Complete (ce+) mode, also known as Compliance Edition Plus, then maybe this has an affect on items being deleted from the Index too?  That's only a guess, but thought to bring it up.  If anyone else on the forum has any info, please pipe in about now...

these KB's may be worth a look?;

http://seer.entsupport.symantec.com/docs/316946.htm
http://seer.entsupport.symantec.com/docs/282737.htm