Lately, I see [Status Update] from other SCN contributors, but I do not seem able to update or even set my status for that matter.
In the old SCN, I used to update my status quite regularly. How do you manage to do this now?
The new community doesn't have this feature, so you've seen the [Status Update] prefix used here in the Coffee Corner. Another option would be to use a certain portion of your people.sap.com profile description for this. People who are following you should get profile update messages in their activities feed.
In the new platform we make status updates exactly as you just did - by creating a discussion in Coffee Corner, except that you did not add the status update headline in the title after [Status Update] :)
At present, there is no status update functionality in the sense of SCN on Jive. As a result, people post in Coffee Corner.
You can follow Coffee Corner tag, if you wish, or just check it out once in a while.