Nothing much really changes on it. Once you are accepted and you accept and pay, it changes from "pending" to "post-offer stage."
If you're rejected it changes to "No Longer in Consideration"
Before you are in the program you don't really use the dashboard much. You'll use it to accept your offer and set your arrival and departure dates, and you can see a copy of the emails that they have already sent you. You'll use the onboarding website much more. If you're accepted, you'll get the direct link to the onboarding site.
I don't actually know what you use the dashboard for when you're on the program though...