Using Select All with button checkboxes

I like the usability enhancement that button checkboxes provide -- nice big click targets, plus we can add a little sliver of color that's used elsewhere in our application to impart a status indicator.

What's tricky is that we want to provide a Select All option that's turned on by default.

I was thinking about also giving the buttons some kind of subtle highlight color to indicate that they're selected.

My question is: If the user checks a button in the collection below, should it become the only button that is unchecked, or the only button that is selected? Clicking it should uncheck All Statuses, but should it then uncheck all the other status buttons (Or is this pattern totally ridiculous and I should just stick with checkboxes?)