Resolved
Overview of the issue
When translating a product on the WooCommerce Multilingual products translation page, the translation status icon does not change immediately when the actual translation status changes. e.g. when the translation is complete.
The translation status icons allow one to easily spot products that need translations on the WooCommerce Mulilingual products translation screen.
Workaround
Refresh the page.
This is fixed in WooCommerce Multilingual 3.4.3-beta1