[Plugin: Comment Inbox] WP 2.5 can provide that workflow without plugin

Go to settings -> discussion
Default article settings
Select: Allow people to post comments on the article
Comment Moderation
Write: Hold a comment in the queue if it contains 0 or more links. (This is the tip. Default number is 2)

Now everybody can comment and see immediately his comment (the default behavior displays a message above the comment indicating moderation is pending). The admin has got the advertisements that he has comments to moderate in queue… This is really close to the feature of this plugin. You approve and the comment moves out the moderation queue…

Regards.

http://wordpress.org/extend/plugins/comment-inbox/