Morgan,
A good question, never really tested before. In my testing the user will see the statuses of whatever group is attached to the project. In many cases that could be the group attached to the project queue, however, you could have a different group if your using templates. The group associated with the template is what you'll get within your project. My test was pretty easy, we have a group that wants only 4 unique statues and another group that has 10, I took a user from each group and shared a project with each which seemed to confirm the above. Each saw the statuses from the group associated for the project. It was a quick test so I may have missed something but hope it helps.