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1.
An event for which it is worthy of updating your Facebook status.
Maria: I just got a new job. I should update my Facebook status.
Alex: Yes, that is status worthy news.

Fred: I see Liam is eating a peanut butter and jelly sandwich for dinner according to his Facebook profile.
May: That is not status worthy. It is status abuse
by Rex Roddy April 01, 2010
 
2.
When you have such a great moment that you have to post a status on facebook instead of twitter.
Fernando: Bomb, I just got an A on my test!
Alejandro: Cool bro, you should tweet "Just got an A on my test #intelligence"

Fernando: Nah, this is too cool for twitter. It's status worthy
by Mr.applesauce October 24, 2012