Controlling bug's status manually using custom fields (does not follow workflow state and transition)
Hiding bugs status information in bugs description to avoid confusion or ambiguity of information between workflow bug status and custom field bug status.
Is there any possibility or workaround to implement above requirements?
No on Number 2, that violates the whole idea of having a workflow. You can make a workflow that hides/exposes transitions based on the content of custom fields, but it will still be a workflow that you have to follow.
Number 3. It sounds like you want to dynamically hide/expose information based on other fields. I believe one of the plugins will do that. It may be the behavior plugin
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