initiative - determines who moves first
critical - increases crit chance and also reduces the chance of receiving a critical
injury - increases crit damage and also reduces damage received from crits
combo - increases the chance of doing your combo (ex. a standard might say it causes three hits and high float but its only a chance of doing that. might just hit once. this increases the chance that you will actually hit three times and cause high float)
also reduces the enemies chance of getting a successful combo
control - increases your chance/reduces opponents chance of causing control i.e. the statuses you mentioned :P

ignition - ignited ninjas can't heal and will take damage at the end of the round
blindness - ninja wont do their standard
immobile - ninja can't do anything (no standard combo or mystery)
tag - reduces defensive stats of effected ninja
high combos - high combo is 10 hits i believe

That explains it for me, thanks!