Without knowing what the "Review status of all projects..." item looks like in one of your meetings, I can't say for sure. However, in general, a checklist item would be responded to during the tactical meeting with a simple "check" or "no check" indicating whether or not you completed the item (i.e., reviewing the status of your projects). On the other hand, during project updates, you would speak to what has actually changed on a project since the last tactical meeting. The difference being the level of detail reported (with basically no detail being given for a checklist item).
Again, without knowing details, it's tough to say, but I would guess that the checklist item is just ill conceived.