How about offering visualisations used in traditional status reporting like traffic lights or harvey balls so that target audiences can easier transition?
We're big into color coding on the Team Central, in fact I color code most things in my life not just status reports .
The top of your personalized updates feed color codes your projects by status, PLUS it's clickable, so click the status you're interested in and it will instantly filter your feed to show just projects with that status.
We also color code the status timeline at the top of your project's homepage. So you can see can get a quick glance of the project's history of statuses.
This timeline is powered by our color-coded status picker that we ask you to review every week as you write your 280 character update.
And all of these traffic lights are available for tracking both your projects and your goals! We don't use Harvey Balls as part of the project metadata, but I like your idea! It could be a good visual to attach to a weekly update!