What are reservation status options for?
Status settings are used to differentiate reservtions. You can set a status for new reservations to default to, as well as a status for the reservation to automatically change to after a certain triggering event.
How do I change a status to a new color after a payment has been made?
Under the options for reservations status check the box labeled "change to this status as soon as a reservation has been made."
How do I rearrange the order my status options appear?
The order that your reservation status options up here depends on the sort order settings. Change your short order settings to change the order of your options.