My previous understanding was the license is no longer a valid ID (needed to enter federal buildings and board an airplane) after Temp Visitor status expired, and is still a valid proof of qualified driver. I double checked it with DMV, the girl working there told me the license expires with either expiration date on the license. So I renewed my license although I doubt what she said.
But I just googled a moment ago and found this:
"Prior to expiration of the Temporary Visitor status date, the applicant must present in-person at a driver license office, valid documentation of a status change or extension of stay in the U.S. and obtain a duplicate (or renewal) with an updated Temporary Visitor status date.
If the applicant does not provide the necessary documentation and update the Temporary Visitor status date on or before the status date expiration, the card will be cancelled and the person may not operate a motor vehicle until the cancellation has been lifted.
If the expiration date of the card expires on or before the Temporary Visitor status date, documentation will be required to update the Temporary Visitor status date when the card is renewed."