Does Lightroom 5 have that?
If you really want to track stuff on a folder basis, I suggest you use Jeffrey Friedl's "Folder Status" plugin.
There is also my "Folder Notes" plugin (free-form folder-based note keeping), but if you're serious about folder-based status, get Jeffrey's.
Granted, neither of these solutions allows you to see at a glance in the folder pane, or prioritize folders relative to one another etc.
You could also invent your own solution: in each folder, have a fake photo which represents the folder - name it the same as the folder, then assign a color label to it, and other metadata.. Have a lib filter to display only these folder photos, and sort by priority etc.
Personally, I just use photo metadata (and smart collections, and/or lib filters).
I think most people would suggest using metadata and/or collections to accomplish your goal, folders being sorta "yesterday's way of doing things..".
Also see John Beardsworth's Lightroom workflow:
(The direct link to Beardsworth's website appear to bring up an article with no text, but the above link explains it well)