The Status Widget is a dynamic widget and is used to start and stop Queued Tasks.  The Status widget can also display error messages that ACP may have encountered while accessing the Act! database.
If you need help with Queued Tasks please visit that section. 
The Status widget and the Queue Task list are directly related.  When you make changes to items in ACP, these changes will create Queued items to be applied to the Act! database. These tasks can be adding a new user, adding fields or drop downs.  However, when you make schema changes like adding a field or editing a drop down in ACP, the Act! database will need to be locked to make the changes, This will cause all users sessions to be terminated. ACP allows you to pause all the Queue Items so that you can work on the schema changes without affecting the users that are logged into the database. Then when you are done making your changes, you can un-pause the Queue and then apply all the schema changes “en mass”, this allows you to lock the database and apply your database changes when it is optimal for your users.
In the image below, the status widget is paused and is a red pause button. Also, if you look at the queue task list you will see an action and it reads pending. 

In this step, the status widget has been clicked and now is now a blue play button.  The Queue Task list still reads pending and is running the update. 
In the last step, the status widget is now complete with a blue play button. The Queue task also reads complete.  
Next : Queue Task