Aisede

Status updates are like posting on facebook and other social media like this. These are bound to your profile rather than the forums.

Your status updates will be displayed on your profile page under "Activity" tab (also referred as "your wall") AND will be publicly displayed in the Status Updates Stream. You can view all statuses posted by everyone (that status updates stream) by clicking this button in the upper right corner:

What's more, users who follow you will receive a notification whenever you post a new status update, if they'll have it enabled in the notification preferences.

Hope that helps! 

Heh. I'm always always on mobile. 

Is that "your content will need to be approved by a moderator" thing also for new users? 

Basically what @Rikifive said! I hope what they said helps!