I second this. I also tried installing an addon to put an "Awaiting Approval" notice up in the moderator bar, but haven't got it working correctly yet.
A lot of my staff can't be at a computer to sit on the forum and wait for things to happen. Email notices for members needing approval, reported posts and pending moderator actions would be most helpful. Even having a dedicated Twitter account for staff, which XF could broadcast notices to, would work for us.