[jwegan]

I think it means that Google isn't going to be showing your ads for that keyword. It is likely due to your ad being given a poor quality score for that keyword. There should be something that shows your quality score for each keyword and my guess is for those keywords for which you have an estimated traffic of zero, your score is quite low.

[j1477]

But I haven't activated my campaign yet. Can google assign a quality score when you are just creating your campaign?

[jwegan]

I think they might.