>Will we get colored flags AND colored tags?
No

>Or will they be the same
Maybe. something like an option "display this tag as flag" or "display this tag as a checkbox"

>Will the flag have a connection to the tags
It will.

>how will I define which status corresponds to which flag
In the tag's properties

> will it be just a graphical thing without any additional functionality
At least it will support some extra control elements in the note's preview, like a checkbox

Thanks!