I am running WP 2.5.1 and Semiologic Pro v.5.5 RC-3.
When there is a comment, I can see that shows on my dashboard. When I click the "comments" link, I can see there is "Awaiting Moderation (3)". However, when I click on the "Awaiting Moderation (3)", it will say "No comments awaiting moderation… yet." But yet, I can still see "Awaiting Moderation (3)". Please see attachment for screenshot.
But in the mean time, I will receive email noticficaion about the comments for approval. I can click on the link from the email and approve the comment. However, I just can't access them from the dashboard.