People might start reporting posts as a way to slander the author. For example, "I really hate
insert name so I'm going to report his posts so that he'll be embarassed by having the 'This post has been reported!' stuck to it."
And, what happens when a moderator looks at the post and decides there is nothing wrong with it? Does the icon become "This post has been approved!"? If it does, the moderator could (maybe--I'm not a lawyer) find themselves held liable for the contents. The "terms of use" for many forums disclaim reponsibility for the content saying things like "You acknowledge that Yahoo does not pre-screen Content..." - you could have trouble if users are able to determine which posts were approved by a moderator. Of course, maybe I am just paranoid...
Bill Dimm,
MagPortal.com - [:red]free feeds for your site.