I don't think it has anything to do with the server connection.
I'm not sure about that but if you use "
Resynchronize", the icon coincides with the message "
No connection. Your funds are safe" while it's red.
Then, the Blockchain tip's height displays as it turns green.
And synchronization, involves their server.
But it's closed-source so I can't totally confirm that icon's whole purpose.
PM me your address and I'll send you my $0.02

Thanks, but once your transactions show (
with green connection), that should be enough to tell that it's working.
BTW, it doesn't turn gray on my end, normally or when resyncing the wallet.