Prior to September 2014, the Inland Guide stated that legal status was not a requirement, providing the applicant had an eligible sponsor.
Since you applied in May 2014, your lack of status would not prevent your PR from being approved. However, the guide also warned that those in Canada without status could be removed at anytime. Many here believe that unless you do something to draw attention to yourself, you should be ok until you reach AIP (first stage approval), which for you could be ~ August (based on the current processing times).
For you, having AIP would not necessarily give you temporary residency status, but it would be better than having no status.