Deleting MySQL table with pending transactions
There is nothing you can really do because a rollback is being done via the UNDO tablespace inside ibdata1, which should have grown immensely.
If you kill the mysqld process and restart mysql, it will just pickup where it left off as part of the crash recovery cycle.
DISCLAIMER : Not Responsible for Data Loss
What you could do may result in data loss for other tables, but there is something you can do to circumvent InnoDB's normal crash recovery cycle.
There is a startup option called innodb_force_recovery, which allows you to bypass various stages of InnoDB crash recovery.
According to MySQL Documentation on Forcing InnoDB Recovery, here are the settings and its effects:

1 (SRV_FORCE_IGNORE_CORRUPT)
Let the server run even if it detects a corrupt page. Try to make SELECT * FROM tbl_name jump over corrupt index records and pages, which helps in dumping tables.
2 (SRV_FORCE_NO_BACKGROUND)
Prevent the master thread from running. If a crash would occur during the purge operation, this recovery value prevents it.
3 (SRV_FORCE_NO_TRX_UNDO)
Do not run transaction rollbacks after crash recovery.
4 (SRV_FORCE_NO_IBUF_MERGE)
Prevent insert buffer merge operations. If they would cause a crash, do not do them. Do not calculate table statistics.
5 (SRV_FORCE_NO_UNDO_LOG_SCAN)
Do not look at undo logs when starting the database: InnoDB treats even incomplete transactions as committed.
6 (SRV_FORCE_NO_LOG_REDO)
Do not do the redo log roll-forward in connection with recovery.

With transactional changes buried in the UNDO and REDO logs, you run the risk of

losing data meant to be written
keeping data meant to be deleted

In case you expect bad side effects, backup the entire /var/lib/mysql and put it somewhere in case you want to copy ibdata1, ib_logfile0, and ib_logfile1 and retry normal recovery.
If mysql is fully up in one of the modes

mysqldump all data except the offending table
shutdown mysql
remove everything in /var/lib/mysql except /var/lib/mysql/mysql
start mysql
reload the mysqldump

CAVEAT : Make sure you backup everything !!!
I hope this helps !!!