To clarify, I think this refers to the fact that when the Previewed Discussions list for a page does not exceed the Number of Previewed Discussions setting, there is no link to "View All Discussions". Because the moderation controls exist on the link's target page only, there is no obvious way to approve, delete, etc the discussions. When viewing the discussions directly, there is no link to approve a moderated discussion.
It is important that:
- Moderation controls appear on the previewed blocks
- It is possible to perform any moderation action for a discussion node while viewing that discussion