The badge shows the address currently used as the sender of your system emails (the System Email - Email Address From setting on the Email tab) together with its verification status:

• Verified (green) – the address is ready to send.
• A Verify button – the address has not yet been confirmed with the email provider. Click Verify; Sprwt asks the email service to send a verification message to that address and shows An email was sent to … Please follow instructions. Open that message and follow its link, then reload the page to see the Verified badge.

Verification is only needed when emails go out through Sprwt's Amazon SES sending; accounts on custom SMTP are always treated as verified.