Hello Sean!
thank you for contacting us!
Currently store manager allows to change Post Status for one selected product only here in product grid when you click on it here:
https://www.screencast.com/t/FFnxasCWFM
Please vote for your feature request here:
https://support.emagicone.com/370374-Change-Post-Status-with-Mass-Product-Chnager
The more votes the feature gets, the sooner it can be taken into consideration for development.
Thank you!