From my experience, it works so long as there is a Moderator in the Forum that the bad post is located. Apparently, if there is not a Moderator, it goes into the FlyerTalk 360 file. I posted this question publicly a while back, along with a private e-mail to Randy and didn't receive a response from anyone.

You've hit indirectly on the single most frustrating issue for me with Flyertalk. Volunteers are solicited - people taken the time to complete applications to become Moderators, try and resolve problems, etc, and they are ignored. At least, don't solicit volunteers if they aren't needed/wanted. @:-)