Scalability, it might of originally been designed with future thought of having a maybe option, or other states.
Fundamentally there really is very little difference, but I always tend to go for bit values for boolean data types as it keeps data integrity (don't have to worry about upper/lower case Y/N values).
Also don't change it if you don't need to, it can often cause more problems down the line that you wont expect. It wont provide any real benefit to change it, you'd just spend time checking it all works for no real benefit to the end user.
If you are designing a system though, use bit.