For people who already have a database which is infected with multiple moderators, this will be the fix:
Open /scripts/postlist.inc.php
Search for the line SELECT t1.USER_ID,t2USER_DISPLAY_NAME (Line 229 ?) and replace it with:
SELECT DISTINCT t1.USER_ID,t2.USER_DISPLAY_NAME
Do the same with showflat.inc.php
Rob