The global convergence statistic. The convergence statistic is a measure of the accuracy of the observed distribution of sampled parameter values as an estimate of the parameters' posterior distribution. Smaller values of the convergence statistic are better. See Convergence Statistic Definition.
A happy or unhappy face indicates whether the global convergence statistic satisfies the convergence criterion. By default, the convergence criterion is 1.002. That is, the convergence statistic must fall below 1.002 to get a happy face. You can change the convergence criterion on the MCMC tab of the Bayesian SEM Options window.