Rules Update: Threads of Fate

I'd hazard it follows the same rules as Empathic

That's the intent.

Example:  Joe is at 10/100 BP, Bob uses Threads of Fate to take is 90 BP of Damage and throw it as Sue.  Sue cannot defend and only has a max of 40 BP.  She falls to Serious.

Sure, if she can't block it she would fall to Serious.  If you're implying that this is very powerful, keep it mind it costs the same as Incinerate, Gaia's Embrace, Grant Death, Harvest Your Soul, along with many other very strong 4th rank spells/prayers.

I am not implying anything about it's power level, merely looking to find a complete understanding of the intent of the prayer in both spirit of the game and spirit of the rules.

My last question is can this prayer work in reverse, as in can you take the status of "Healthy" and bestow it upon somebody who a status of anything but?

For example transferring somebody's Healthy Status to somebody who does not have the same?

Example: Sue is badly injured with two severed limbs and 10/40BP.  Healthy enemy Goblin A comes around the corner.  Joe decides to hit the Goblin with Threads of Fate, declaring he wishes to move his "Healthy" status to Sue.

Is this correct, or is Healthy not a "Status" for the intensive purposes of Threads of Fate?

Healthy not a "Status" for the intensive purposes of Threads of Fate?

This.

The first target of the spell must be the injured party, and the second must be the intended recipient of that injury.  In no way can you transfer more than one status effect off of a character with one use of this prayer.