From Motorola:
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What do the icons on my phone mean?

At the top of the screen, icons on the left notify you about new messages or events (flick the bar down for details). Icons on the right tell you about phone status.
Notification icons report the arrival of new messages, calendar events, alarms, as well as ongoing events, such as when call forwarding is on or the current call status. When you receive a notification, its icon and a brief summary appear in the status
bar, and then is replaced just by its icon.
You can open the Notifications panel to view a list of all your notifications. Applications whose activities produce notifications, such as Gmail and Google Talk, have their own settings you can use to configure whether and how they send
notifications.
Below is a list of notifications and status icons:

Bluetooth Active ____________ Network (Full Signal)
GPS Active ________________ Network (Roaming)
Wi-Fi Active _______________ Phone Connected via USB cable
Downloading data _________ SD card is full
Uploading data ___________ Voicemail Message
Download complete ________ 3G (fastest data)
Connected to VPN ________ Airplane (Flight) Mode
Disconnected from VPN ____ Battery (Charging)
Signal (Roaming) ___________ Battery (Fully Charged)
Speakerphone Active ________ Alarm Set @ New Email Message
Volume _________________ New SMS or MMS
Vibrate _________________ Problem with message delivery
Silent ___________________ Upcoming Event
Mute Call ________________ Problem with sign-in or sync
Data is syncing

Tip: To see today’s date, tap and hold the status indicators.