After the installation completes, you may wish to visit the settings for the plugin. To set all the blogs on the system to the same value, change the settings at the system level. To change settings for an individual blog, change the settings on that blog. Once set at the blog level, the system level settings may be reapplied by selecting to reset the settings (though your changes will be lost).
To update the system settings, go to the System Settings page (System Overview -> Plugins -> MT-Moderate -> Settings). For the blog level settings, go to Blog Preferences -> Plugins -> MT-Moderate -> Settings. The pages look identical except for their color.
Two settings apply to MT-Moderate - the Entry Age and Comment Age.
The Entry Age is the age of the entry. The default value (7) looks to see how old the entry is where feedback is being left. If the entry is older than this value, then the threshold is triggered (more on that in a moment).
Next is the Comment Age, which works in conjunction with this value because it allows conversations to keep going even after an entry ages out of the first check. Once a comment is left, it starts a new timer - so that way if an older entry has active comments, it acts as a sort of refresher for that entry, and for a limited time, that entry becomes new again, accepting feedback like it was a brand new entry.
The last two options on the settings page allow you to dictate what you want to happen if the threshold is triggered. You can turn the check off entirely (it does not run at all), you can moderate the feedback or you can junk the feedback. If you want to junk the feedback, you have the option of adjusting the weight of the junk value returned. The threshold action is available for the comment and the trackback separately - so you can best determine how to react for each on your installation.