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The status property sets or returns the text in the status bar at the bottom of the browser.
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Reference:
http://www.w3schools.com/htmldom/prop_win_status.asp
This means that down in the right corner of the browser window what you will see.
If the website owner hasn't set this, the visitor will see the link they will be taken to in the bottom right corner of the browser window.
From the same reference above:
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Note: This property does not work in default configuration of IE, Firefox, and some other browsers! To allow scripts change the status bar text, the user must set the dom.disable_window_status_change preference to false in the about:config screen. (or in Firefox: "Tools - Options - Content -Enable JavaScript / Advanced - Allow scripts to change status bar text")
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Who ever wrote that code is hiding a redirect to domain.com. They are changing the message in the browser status bar to hide this from the visitor. Yes the visitor will be taken to domain.com.