Avionic status is for reading the class 3 faults. These are faults which are of such a low level that they don't trigger any other warning and don't affect the operation of the system. If my memory serves me correct the avionic status prompt only appears when you have ground power plugged in, ie on normal generators in normal service you can't even access them they are that unimportant.
From my experience they can be ignored, You can just read them and test the affected system and it will still pass the test, if the defect becomes serious enough to trigger a message then deal with it. (Just don't quote me)
Incidentally the class 3 faults and their recording were the only computer systems which were not Y2K compliant on the A320.
CFDS is a wonderful tool if used properly but it can lead you up the garden path sometimes so a 'master reset' is well worth a shot before you send the pax to the hotel.