Wlork I haven't tested it, but as far as I know, moderators can see it by default. You can configure it from the permissions page in the admin panel.
As for the other method you mentioned, I tried it, but here's the issue: when the reported comment gets approved, it doesn't revert back to its original state; the "reported by the community" message still remains. It probably wouldn't be too difficult to fix, but the more functions you add, the more potential issues arise. That's why I try to keep it as simple as possible.
Additionally, right now, if a comment from an administrator gets reported by two members, it also turns into an unapproved comment. 😄
If you'd like, you can suggest different parameters to prevent abuse of the reporting system.
