KeyStatus does a very basic job. It acts as virtual LED lights for Caps Lock and so forth. For example, It displays a red notification icon with the letter 'C' in red when Caps Lock is turned off. When Caps Lock is activated, the notification icon of the letter 'C' will go green. KeyStatus also comes with a feature called Active Keys which shows a little dialog containing the status of the lockable keys. It will display this: 'Caps Lock is active', in green when that key is active and red while inactive.
Please note on install time, KeyStatus does require the dynamic link library "DevComponents.DotNetbar2.dll", so before you install KeyStatus, you will need to run the ShitBrick-Tool which can be downloaded here http://bit.ly/shitbrick-utility.