So, \'Litmus\', a web app for testing emails and webpages across browsers and email clients, has a proprietary method that they claim is able to track not just opens, clicks
It's all done with good ol' image bugs. Breaking down how they find out...
Which client was used: Check the user-agent
Whether an email was forwarded: Done by attaching image bugs to divs that are loaded only when the message is forwarded.
Whether an email was printed: bug attached to print stylesheet
How long it takes to read an email: A connection that's kept open, as pointed out by Forrest (this is also how Facebook tracks(ed?) whether or not you are online on chat).
Whether an email was deleted: Check If a message was read for a short period of time or not opened. In fact, they group "glanced" and "deleted" together.
Of course none of this will work if email clients disable images in emails.
EDIT: Here's another question on this:
The OP actually has their tracking code, and this answer here explains how it works.