I want to add two custom statuses in an active workflow on a condition that only if a particular value of a custom field is selected,then only these two statuses are visible in the workflow else not,is this possible?
Sort of.
The status will always be visible in the workflow. What varies is whether JIRA offers a user the transition into a status.
The way to do this is with "conditions", which you add to the transition - they can say things like "user must be in group X" or "field Y has content Z", and the transition to a status is only shown to the users when all of the condtions are "true"
I'm not that familiar with what conditions you have available for OnDemand - I'm used to server versions where I've written my own (either as an addon or using the script-runner addon). But start by adding conditions, you'll find a few are ready to use straight away.
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