Brilliant, thank you. (glitch) Rated 5 out of 5 stars

Thanks, dude. Really wanted this. Nice also to find that your add-on allowed for placing the status text in the location bar.
To reproduce glitch:
1) Have more than one open tab. 2) Move cursor off-window. 3) Load or reload a webpage. 4) Let it finish loading so status reads "Done". 5) Use keyboard shortcut to switch tabs. 6) Notice the favicon changes according to active tab, but url text is frozen, unless you hover over a link or switch to a tab with status bar text activity. B) If the "Clear the status after... seconds" is on, and you wait for the status text to clear, the fake url will fade away along with it. C) Also, if you edit the url, the status text disappears and doesn't come back by itself when you finish editing.
Using version 2010.11.20.19 on ff4.0b7. Five stars anyways, coz this is a must have.

This review is for a previous version of the add-on (2010.11.20.19). 

The problem with the location bar not changing when switching tabs has been fixed for Firefox 4.0 beta 8.