In fact, Status and Fault are U16 values (from 0 to 65535). So, if I place a checkpoint at their outputs, I'll see a numerical number from 0 to 65535. But the meaning of a Fault (by example) is based on a certain bit being ON (multiple bit can be ON at the same time). In my case, I just check what is the numerical value of the checkpoint and I manually check which bits are ON using the Windows Calculator in Programmer mode.
You could also decode the U16 in the program using a "Split" and two "Decode 8 BOOL" components and assign a checkpoint to the wanted bits. This way, in Service Tool, you will see a nice ON/OFF indicator that is saying if a block is in a specific fault.
Sam