From form entries I now see a column for 'show entry in directory view' check column that works. yeah! Next to it I also have an 'approved' column that shows a check. This is always checked. Looking at the entries here there are either two check marks or red x and green check mark. When I choose to 'edit' and entry I am unable to un-approve the entry. I can uncheck the approve field and update entry but it appears checked again.
Note: I downloaded the new 3.4 version this morning and created a new form for testing. I started with an 'directory approved' field on this new form. The shortcode I am using is [directory form="4" smartapproval="true" lightboxsettings="images"]