Thanks to Ryan Ruark, I think I have the answer to this now. It appears that these data codes are tied to the slider that appears under the project status widget. A project manager can at any time move the slider from left to right (I guess or vice versa), with three stops: all the way to the right (and the slider is tinted green) means the project is "on track." I am thinking this is given a code of 2. All the way to the left (and the slider bar there is tinted red) means the project is "critical, or in crisis" and I am assuming this is assigned a code of 0 in the database. In the middle, where the slider bar is tinted orange, means the project is "at risk, or delayed" and assigned a code of 1 in the database. Somewhere there is a checkbox for when the project is completed, and it appears in the database that the project status field is then given a code of 99.
If anyone who works with the backend end database schema can confirm, I'd appreciate it. I created a new project here in some test space (test1234) to look at this widget (don't have access to my own Jive space, unfortunately) but didn't see the widget, so if anyone also knows how I place it on my project overview, some instructions on how to do it would be much appreciated.