<span style="text-decoration: line-through">I want to give my moderators the ability to edit posts they deem inappropriate or does not fit the rules of the board but I also want to display the reason why the post was edited at the bottom of the post (below the signature). Is there a hack available for this?</span>
Never mind, I'll just edit the default postbit template.
I just realized that after posting! Thanks! My problem now is to get the group ID of the user that edited the post so I can change the style of the editing reason displayed at the bottom of the post.