It took me hours to realise how this works. Other users seem to find this confusing as well.
Currently, the status field needs to always be ticked regardless of publication status. I thought that leaving this box checked would display the ad even if it was unpublished. The description "Please use this field to show or hide ads even if the ad is active and published" is not clear (although that now I know how it works, it sounds ok).
I suggest that this field is changed to something like:
Title: "Deactivate ad"
Description: "Do not display the ad regardless of current activation dates and publication status."
Title: "Temporary Deactivation"
Description: "Use this to temporarily deactivate the ad while leaving activation dates and publication status intact."
This way users will only have to check this box when it's required and will not confuse it with the ad status set by the dates and the publication setting.
Thank you very much for sharing this module.