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What do the coupon statuses mean?

Short answer: Four states: issued while it can be used, used as soon as it has been applied to an order, paid or not, expired past its date, canceled if you withdrew it.

The four states

State What it means Effect on the money pot
Coupon issued / Gift card issued The code is valid and nobody has used it yet. A coupon has not been debited yet; a gift card already has.
Coupon used / Gift card used The code has been applied to an order, paid or not. The record gives the order number. The debit happens only when the order is paid. An unpaid order leaves the code spent with no debit.
Coupon expired / Gift card expired The expiry date has passed, the code no longer works. Nothing is credited back: an expired gift card stays debited, an expired coupon was never debited.
Coupon canceled / Gift card canceled You withdrew it before use. The money pot is credited back if a gift card had been debited.
The label shown combines the type and the state, so a row can be read at a glance.
A coupon used on an order that is then refunded goes back to canceled, and the money pot is credited back.

Going further

What do the coupon statuses mean? | DAGOBA