@ericonline so in your formula, I read it as:
If ConditionA is true, false, otherwise If ConditionB is true, then true.
Condition A is field is "off" or Blank
Condition B is field is "off" or Blank and Toggle is true and Toggle is true (you are and'ing the toggle value twice).
So, if I boil this down, I am seeing that you are really just looking to see if any of these conditions are met.
If I look at the inverse of the problem, it seems that, if the item is "on" and not Blank, it should be "on"/true.
What I am missing from your end-goal is, are you trying to use the Toggle2 as a master "on" or master "off" toggle?
If you are trying to do master "on", then your formula should be:
!(ThisItem.Status="Off") || IsBlank(ThisItem.Status) || Toggle2.Value
If the status is not "off" or the status is blank or the toggle is on = set to on.
Or:
(!(ThisItem.Status2="Off") && !IsBlank(ThisItem.Status2)) || Toggle22.Value
If the status is not "off" and the status is not blank OR the toggle is on = set to on
Or:
!(ThisItem.Status2="Off") && !IsBlank(ThisItem.Status2) || (Toggle22.Value && !IsBlank(ThisItem.Status2))
If the status is not "off" and the status is not blank OR the toggle is on and the status is not blank = set to on
You might give the shortened notation (&& || !) a try over using the And, Or and Not as a formula - makes it a little easier to digest the logic.
Hope this helps some.