I attended a program that was put on probation during my time there. Feel free to ask their faculty director what the status is, and what the program plans to do to remove probationary status.
Programs on probation are still APA accredited. Whether or not you graduate from an APA-accredited program is determined by accreditation status on the day of graduation.
For my program, we were on probation because our website did not accurately conform to APA's standards and course syllabi were not compliant with addressing specific APA competencies. That was it. It had nothing to do with the quality of our training, and once these issues were addressed we were taken off probation.
That said, expect there to be anxiety about probationary status in the program. All the students in my cohort were worried and lost faith in the program after we were placed on probation. Ultimately, it did no harm to me, and just resulted in a boatload of work for our director.