Currently, if there are two transactions with the same nonce (none of which is an "empty" cancellation transaction), we display the non-executed transaction as canceled if the other tx is executed. We should introduce a new status replaced for a transaction where an executed tx with the same nonce exists, which is not a cancellation transaction.
Currently, it is not possible to create two transactions with the same nonce through the interface, so this only happens in edge cases or if the user creations Multisig transactions outside of the interface. However, we might introduce an advance feature to manually set the nonce (#435), so making the distinction between canceled (where the Multisig owners voted to invalidate the tx) and replaced (where the tx is not executable because another tx already occupies this nonce) is getting more important.
@posthnikova we would need a new status label for this
I鈥檒l note that as recently as a month ago, it was possible to get this outcome through normal use of the interface. So it used to be an edge case that came up frequently.

I propose we use Resync icon at 16px. 5D6D74 text, D4D5D3 background.
If this gets prioritized at some point, let's please make sure to document this properly in https://github.com/gnosis/safe/wiki/Safe-transaction-states
part of layout redesign
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I propose we use Resync icon at 16px. 5D6D74 text, D4D5D3 background.