A status indicator does not always need to glow. This electromechanical module physically switches between red and green and holds the visible state when power is removed.
The change comes with a mechanical click, giving the transition a small audible cue as well as a visual one. That makes it an interesting choice for a persistent status flag or interactive control panel.
The important distinction is that the displayed state can outlast the power supply. A project using it should decide what that retained state means after a restart, rather than assuming it always describes the current live system.