If it were not a TOS violation and strictly verbotten to talk about moderation, I would point out that in my VAST experience in dealing with this question, it all depends on the moderator. I would tell you that I have been issued week-long suspensions for using astrisks by one moderator and yet in another forum a moderator regularly uses them himself, if I were allowed.
One thing I definitely WOULD point out, though, were it allowed, is that questioning a moderator on this issue will a fast-track to suspend-ville 100% of the time...