The driver creates 4 child devices. two binary switches and two contact sensors.
I use the first switch to control the door. The second can control another door or a warning light or a siren. There are many options available as per the advanced documentation.
I use one contact sensor, via a security type magnetic switch as a door closed sensor. The second sensor I use with a "safety beam" device to detect when the doorway is obstructed. It could easily be used for a door open indication.
However, the Virtual Garage Door app that's available requires an acceleration/tilt sensor to detect door movement and orientation, such as a Smartthings multi sensor.
So, to answer your question, the unit can handle all the controls and indications needed for a garage door. I have my devices arranged on my "Garage" dashboard. But, if you want to use the "Garage Door" device using the Virtual Garage Door app you're still going to need a tilt sensor attached to the door.
Hope this helps.