Subject prefixes (Re, Fwd) are standard, same as in any other email app, this is a convention not "standard".
Little arrows are "indicators" that *this* message has been replied to / forwarded / both. Curved arrow - replied, right arrow - forwarded.
The arrows are based on message flags that are stored on the mail server (same as a star is for example) and would be visible in other apps or web mail if supported (they often are).
Basically unlike the Re/Fwd prefixes (which are in *sent* messages for you, and only visible by the recipients) - these are set on the original *incoming* message and let you know if you've replied / forwarded that message.