Thanks to some suggestions on the Drupal website, I've improved the modifications to a) have Subscriptions honor the $node->moderate bit, and b) have Modr8 send out Subscriptions when a node is approved.
This still requires a patch to modr8 so that subscriptions gets called when the approval form is submitted, but uses a module for the rest. Also it pulls the real $node values from the database, rather than creating a skeleton from the form info.
| Attachment | Size |
|---|---|
| modr8_subscriptions.tar_.gz | 716 bytes |
| modr8_admin.patch | 1.15 KB |

Comments
Slight changes
I made a few slight changes, per Hans Salvisberg (the Subscriptions module maintainer) to conform to the Drupal coding standards.
As a side note, Hans (salvis) has been extremely helpful and patient in his suggestions to me. He's been a true model of how a community member ought to behave, and I truly appreciate it.