Are Status List and Status List Indicator really discontinued? Well, as per the article on http://office.microsoft.com/en-001/sharepoint-help/discontinued-features-and-modified-functionality-in-microsoft-sharepoint-2013-HA102892827.aspx , it is discontinued.
There is a workaround to get the same features working on Office 365. I've tried this on Office 365 Small Business Subscription. It should work the same way on all the other subscriptions and also on SharePoint Server 2013 On-Premises deployment.
1. On you team site, from the site settings menu click on Add an App. Look for Report Library App in Your Apps.
2. Click on Report Library to add Report Library to the Team Site. Enter Library name and click Create.
3. The new library will appear in the Recent links in left side menu. Click on the library link and then click Files à New Document
4. Select Web Part Page with Status List. This will open up the create page for the new Web Part page.
5. Fill in required details. Make sure in Status Indicators, Create a status indicator list for me automatically is selected. Click OK to create the page. Web Part page with Status List is created as shown below.
6. If you do not have Excel Services License, it'll not display Excel Web Access web parts. Delete those Web Parts from the page by editing the page.
7. To create Status List indicators, click on New under Status List. This will bring the Indicators menu as shown below
8. Create the status Indicator similar to the way it was done in SharePoint 2010!