"Your comment is awaiting moderation."
I get that at some blogs at which I comment.
The problem is that this is the blogosphere and very little is ever "moderated". No one edits comments for for language or hyperlinks or any of that sort of thing. Probably because there is no way for the Blogger himself or herself to do that.
Clicking the square that allows the Blogger to "moderate" comments on a post slows down the process of commenting. It allows time to delete comments one does not like, or comments by people one does not like.
I tried it once, on this blog, for a week, to see how it would go, and then switched back.
For sure, what is not happening is moderation. Delay, yes. Deletion, yes. Moderation, no.
I have been wanting to blog on this for some time, but have been moderating my attitudes toward the phrase, but now no longer.
Regards — Cliff