Already possible (I remember I read about this addition in changelog of Plus! 4.50 but I couldn't find it now, I think it was in the changelog in Beta site and Patchou forgot adding that information in the changelog at official site)
For example in this picture, your contact's status is offline. See the msn buddy lhs of "Last online" line. But you know there are more statuses with the same buddy images so to get the exact status of contact, show that contact in your desktop (right click>Messenger Plus! Features>Show on Desktop) and hover your mouse on it. The tooltip will say the exact status of that contact.
I hope this will be enough for you.