I just left the following ticket on WordPress Trac, as a feature request:
RSS feeds are already generated for posts and comments by default. What would be very helpful woudl be a dedicated RSS feed for comments in the moderation queue. This would permit efficient queue processing without having to log into the Dashboard.
For added functionality, each item in the RSS feed could have unique URL hash address links for approve, reject, and spam, so that moderating directly from the RSS feed could be possible from within the feedreading application. the RSS feed would need to be password protected or made visible to any user level that the admin desires to set.