I would like to see this added as a default part of XenForo before 1.1 Gold. It's very much needed as an instant indicator on the front-page without having to keep venturing into the back-end to check things each time.
I totally agree... this should be a part of the core XenForo 1.1 product. Hopefully Kier or Mike will respond to this request.
I would prefer "Awaiting Approval" to be the first option in the menu bar, then "Moderation Queue" and then "Reported Items".