Just an idea for a extension from a board that I frequent, www.barbelith.com. They run a custom piece of board software where all edits, deletions, thread moves and the like have to be approved by 2-3 moderators. (http://www.barbelith.com/faq/index.php/Distributed_Moderation).

For example if you want to edit a post, you edit the post and then stick the reason for the edit in a box below, it then needs to approval of two moderators. Even the admin can't do edits and deletion without going through the same process.

It needs a decent ammount of moderators to work, but it seems to wotk rather well on Barbelith and avoids acusations of dictorships and the problems of a moderator/admin having a bad day or not having a good realtionship with a particular poster.

Just an idea if someone wants to run with it as It would be cool if more pieces of board software offered this option.