When adding a new Value Hound VDT you will be presented with the below warning message in orange below, informing you how the Status colours will be determined, since you do not yet have fields nominated that would be used to determine the status colours.
When you add a field you will be provided with an option to specify if you would like that field to be used when determining the status colour of the node, please note this option is only available when you have selected Actual or Target as a Type.
When you have added fields as per the image below, you can then Add Views which also let you specify what fields are to be used to determine the status colour when that particular View is selected.
When you add a View you will be presented with the dialog displayed below, where you get to Add a field from the list of fields added above and nominate if you would like that particular field to be used when determining the status colour, when the view is selected.
When you have all the above configured as expected you can then select to view the status colours on the VDT as per the image below, note the system defaults to All as a view.
You can select a different View by clicking on the icon displayed below, and the system will use the field you nominated to determine the status of each node.