An immigration hold is an advice to the Sheriff or other institution in charge of an inmate that before he can be released, ICE would like to take the inmate.
So if you are currently not in custody, you are not subject to an immigration hold.
I guess what you probably mean is that you can be arrested and deported at any time if you would encounter a law enforcement officer.
This might or might not be the case. One would have to take a detailed look at your criminal history. Not every felony conviction as defined by state law is a deportable offense under immigration law. However, in most cases 2 felony convictions probably will mean that one is deportable.
If you want to find out, you would need to consult an immigration attorney who deals with criminal conviction issues. In some cases deportability also can be avoided by seeking postconviction relief.
Wolf W. Kaufmann
Southern California Immigration Attorney
This reply is not meant to establish a client-attorney relationship and does not imply any further obligation by either party.