The longer scrolling message is telling you, as you'd know if you read it, that this seat can be reserved even though it currently isn't. As I indicated, some seats can't be reserved, and in this case the message is far shorter and doesn't scroll. "Unreserved" is usually the word used.

Paper tickets can't be updated and so in some cases they reflect no longer accurate information. This is especially misleading for long distance services where many reservations may happen after the service departs from its origin.