Just throwing two cents here - if the pandemic taught us 10 things, one of those ten gotta be that small details in communication matter very much. With that, I recommend renaming the word "criticality" -> "priority". The reasoning is as follows. And be careful with the red color in the smart sheet too, please, for the same reason. 

You want to express the *level* of importance or urgency, without setting people's hair on fire. Criticality already means something is going wrong, that something has been missed, and that something is already urgent. There is no "low criticality."

By contrast, there is "low priority." When I ask what is the priority of something, I don't imply that everyone should be running around trying to fix something. It could be low priority. 

The exact levels are "high" P1, "normal" P2, "low" P3 and also "critical" P0 and "informational" P4. I'm not saying that "high" priority issue is more important than "normal", or that it can be "very high" or whatever. I mean precisely that the high priority issues have to be worked on, before normal issues are worked on. And low priority issues are worked on only if there are no normal issues that are open. This is per-employee. The P0 critical issues are company-wide where *all* work stops and the critical issue must be fixed, before any other work can resume. These are usually "website down", etc. These ideally would never happen. And the informational P4 issues don't have to be worked on, at all. 

For the word "medium." I have a feeling that most people would bump everything to high, if you ask me if I want medium or high I would say high, but that should be avoided. You don't drive a medium vehicle. You don't log in a medium user. You don't have a medium cup of tea. You drive a normal-ish vehicle, sign in a standard user, and have a regular tea. Most of the issues should be normal, done in a timely fashion, without increasing people's blood pressure or heart rate from just reading it. Marking everything as "high" might literally decrease people's lifespan, because stress is a health risk.

So, these are my thoughts, feel free to disregard them, but I would have done a dis-service to you if I didn't share 'em.

ps.: percentage complete is not part of priority. Here's the redmine UI just for reference: