Automatically checks all of your app statuses with the tap of a button. Saves you the effort of manually logging in to 20 different status checker websites.
Last checked is the time when LSData last checked your status.
Last status change is the time when your status changed from what LSData previously recorded. This will turn red if a change is detected. Some schools update their statuses daily. Others only update statuses with substantial changes (e.g. UR -> Decision).
LSData saves your current app status and you app status from the last time that you checked so that you can easily compare changes in your app status.
School statuses are collapsed by default but will automatically expand when a status change is detected.
LSData will only check your statuses when you tap the button, with a maximum of once every 20 minutes. If you tap the button before 20 minutes has elapsed since your last refresh, nothing will happen.
TL;DR - Yes, it's possible but unlikely. For a longer answer, see here.