Sort of like a trouble ticket system, mods could click through the portal to view a thread in a new tab, and that would flag that reported post's status as "Under investigation" or what have you. If an action was taken in that thread related to the reported post (either by postid, or the status of that thread changing, or infractions being handed out, or whatever), then that reported post's resolution would be logged, and taken out of the moderation queue.
Obviously this is a forum tool that appeals more to larger boards, but I know it's something that my 100+ moderators would love. (I don't dare tell them about the idea, they'd never stop hounding me about not writing it).
What do you guys think? Does this sound like something you'd utilize?