Its ninety-five percent done,
Translation: The remaining five percent will take ninety-five percent of the elapsed time.
Its code complete.
Translation: Some code has been written. Features will be added later.
The code is 95% reusable.
Translation: Five percent of the source code is utterly and irretrievably lost.
Its Alpha ready.
Translation: A lot of code has been written; none tested.
Its Beta ready.
Translation: Its Alpha ready.
Translation: The Development team is sick of this and wants to move on to something else. The customers will test it.