I was wondering why the limit on the number of statuses was so low when I spotted that it was probably a bug due to the differences in the way that javascript deals with + and - operators with strings.
This appears to be a possible solution:
Index: tracworkflowadmin/htdocs/scripts/main.js
===================================================================
--- tracworkflowadmin/htdocs/scripts/main.js (revision 12188)
+++ tracworkflowadmin/htdocs/scripts/main.js (working copy)
@@ -657,7 +657,7 @@
var colspan = $('#status-header-bar').attr('colspan');
var statusName = $('#new-status-input-dialog input').val();
if (!statusName) return false;
- $('#status-header-bar').attr('colspan', colspan + 1);
+ $('#status-header-bar').attr('colspan', parseInt(colspan) + 1);
var el = $($('#status-editor-1 th')[0]).clone(true);
$('input', el).val(statusName);
$('span:first', el).text(statusName);