When you create a Low Reorder set, the entries get saved according to the set's filters. That means the entries in that set are limited to the entries that match the given filters.
If you want to override any of the parameters set in the Set's filter in the Entries tag, those filters will therefore be applied on top of the Set's entries. If you define a different status than the one given in the set, that won't match any of the Set's entries, because they didn't have that status in the first place.
So, if you give additional parameters, they will be applied after the set's filters (parameters) are applied; basically you're just excluding other entries from the Set, which means the order of the entries can still be applied.
If you want to define different parameters, new entries would apply, and Low Reorder has no way of knowing in which order those new entries should be displayed.