Moderated Topics Notification

I'm looking for a solution to this as well.
We've got a couple of members who misbehaved and were put on "probation". For us this means their posts need to be approved. To subscribe to ALL forums means we get floods of hundreds of emails of new posts - then have to sort through and find the 1 in 100 that needs approval.
I was hoping that members of the moderator group could get an email when a post is made that needs approval. That means perhaps a couple a day instead of receiving email for each and every new post in all of our forums. In a week that could be hundreds of posts. We're needing to be notified of only those posts needing approval, and we don't require approval for the masses, just those select few who have violated a rule and are told we will be helping them play nicely with others for 30 days and read and approve each of their posts.
We have no good way to do that, so the moderated posts is very very hard to use without a notification "there's posts that need your attention"
Also, our moderators are volunteers with full time jobs - so it's random as to who is on when or for how long, so we need the email to go to the moderator group.
Checking each forum is a bit much - that takes a ton of time to visit each forum, check for posts that need approval. Not all moderators read or check each forum area daily, it's simply too much to read.

I must say I'm very impressed. Nice forum, nice home page, good layout, it's clean, pleasant to look at or view, it's fast and the images are nicely done.
I also love the names or terms - "Play Nice Group". 
Thanks for the tips. I believe that's a viable solution since there's not an easier way, or a way that is a bit more "automatic". It beats going to each forum area to find such posts.