Well…

I built something and I’m gonna leave my code here so we can improve it 😀

– Download this plugin Custom Order Status for WooCommerce
– Create the status you want
– For some reason WOO wasn’t getting the color setup so I had to use funcions.php with the code below:

add_action('admin_head', 'styling_admin_order_list' );
function styling_admin_order_list() {
    global $pagenow, $post;
    if( $pagenow != 'edit.php') return; // Exit
    if( get_post_type($post->ID) != 'shop_order' ) return; // Exit
    ?>
    <style type="text/css">
        .order-status.status-<?php echo sanitize_title('Redeemed'); ?> {
            background: #00ff00;
            color: #000;
        }
    </style>
    <?php }?>

– Once you have your status, now you need a CRON to update an order when a Coupon is fully redeemed. I just created a PHP file inside of the Child theme calling it cron.php, code is below:

  include("../../../wp-config.php");
  $rs = $wpdb->get_results("SELECT ar_posts.post_title AS coupon FROM <code>ar_posts</code> inner join ar_postmeta on ar_posts.ID = ar_postmeta.post_id where ar_posts.post_type = 'shop_coupon' and ar_postmeta.meta_key = 'coupon_amount' AND ar_postmeta.meta_value = 0");

  foreach($rs as $ar){
      $rsOrder = $wpdb->get_results("SELECT ar_postmeta.meta_value FROM <code>ar_posts</code> inner join ar_postmeta on ar_posts.ID = ar_postmeta.post_id where ar_posts.post_type = 'shop_coupon' and ar_postmeta.meta_key = 'mwb_wgm_giftcard_coupon' and ar_posts.post_title = '".$ar->coupon."' ");
      foreach($rsOrder as $arOrder){
          $orderResult = $wpdb->get_results("SELECT ID FROM <code>ar_posts</code> where post_type = 'shop_order' and ID = ".$arOrder->meta_value." and (post_status = 'wc-completed') ");

          if(count($orderResult) == 1){
              echo "Order ".$arOrder->meta_value."<br>";
              $order = new WC_Order($arOrder->meta_value);
              $order->update_status('wc-redeemed', 'Coupon is fully redeemed');
          }
      }
  }

The FREE version doesn’t change the color but it has an option to set the color lol