Currently, the options are Exempt, Incomplete, Missing or Late. We would like the ability to modify these somewhere in Academics > Grades > Grading Setup > Gradebook Comments (new tile). This would allow teachers to add options such as Submitted and waiting grading or anything else that they may need.
Interesting! Would worry about consistency, but it's an attractive idea to have these be customizable.
Based on your example, I think you are part of a growing group of users who would welcome the addition of a "submitted" button. Tracking these similar ideas:
K12OC-I-18
K12OC-I-803
K12OC-I-2520
K12OC-I-1914