Question: "I have a J1 visa with a 212(e) requirement and I also have a valid B1/B2 visa. My J1 expires in October 2014. In November 2014, I have various meetings / seminars with other companies in the US (not my J1 sponsor), hence the need to return to the US on B1/B2. In parallel, my J1 sponsoring company is in a process of extending duration of my program. To extend the J1 program I was advised to have the 212(e) requirement waived first. The case has been favorably recommended to USCIS by State Department and decision is now pending from USCIS. The basis for the waiver is No Objection Statement."
Answer: It is not possible to change status from J-1 to B-1/B-2, but you can depart and re-enter the U.S. on your B-1/B-2. What I don't understand is why you were told to have the two year home residence requirement waived prior to an extension of your J-1. This could present a risk of you re-subjecting yourself to the two year home residence requirement. 212(e) is a rather nebulous provision, and so the possibility of re-subjecting yourself is not one you should ignore. You should speak with an attorney to protect yourself in this regard.