I can confirm that the moderator panel indeed submits the form to a non-existing action, which would just result in the page reloading. The page action needs to be written first, so it will not be a simple code change to fix. You will be unable to use this form until the next release.
However, if you need to approve/unapprove/delete, the form should give you links to the original content if I'm not mistaken. You should be able to access similar moderator controls that actually work, once you are viewing the original content.
There are a few exceptions:
- Approving/unapproving uploads in the current release does not actually change the upload's moderation state
- After approving/unapproving page edits in the current release, the page still thinks there are edits awaiting moderation
Both of these issues are already fixed as part of a different report.