How about: Low, Fair, Good, Charged.
If you get down to 2 lights: Fair, you probably have a problem and will soon be at 1 light: Low. After that, it won't be long until you're at 0 lights and your battery is discharged.
When plugged into shore power, the lights indicate the output of the Power Converter AND battery. If everything is working correctly, on shore power, you'll always have 4 lights: Charged.