Yeah, I agree very much, Mr G.
That non-map based Virtual Tabletop has a number of really great ideas, but on the other hand, its handicaps —as the lack of essential, basic features and the chronic lack of development— are just overwhelming to me.
The Roll20 pre-arranged status dots definitely are a fresh approach.
However, maybe they could be able to be modified or substituted for those users that really want to make the effort of creating their own versions: "token overlay images" are, for virtual minis status effects, usually a PNG transparent layer with some sort of icon situated in a corner, and then placed over the virtual mini —or any kind of "token", like an image.
I'm saying this because I don't know if the "multi-sided tokens" implementation is going to be related to the current colored status dots.