Volumes do not have typical status indicators, which is likely the cause of the confusion. The long and short is that this volume no longer exists. That is why it's in a "Down" state. The deeply technical and "official" word from on high, straight from Karlo.Zatylny for how/when a volume is in "Down" state.
- Orion Polls for 1.3.6.1.2.1.25.2.3.1.3. + VolumeIndex
- That OID does not return a value or the description does not match the one we expect, so we trigger a rediscovery
- Orion polls the sub-tree 1.3.6.1.2.1.25.2.3.1.3. and searches for the VolumeDescription
- If Orion can’t find the description then the volume status is set to "Down"
Plain text explanation is that the device is no longer reporting a volume at the given index or with the given description. That means the device has lost the volume and Orion reports it as "down".