Application received - processing commenced is what every status page says when you first apply.
When you get a CO the message 'application being processed further' is added to the first page of the status page and all the documents on the checklist change from required to MET. When your visa is granted all the first page and is replaced with Application Approved. If you click on the visa entitlement button it also gives you all the details of the visa.
Hope this helps.