Option to approve comment display in shortcodes?

If you purchased the editor extension, then in the admin panel you can add a field for moderation and edit individual entries to indicate whether they are moderated. Set a filter on the short code to include only those with the correct value in the moderation field.

If i purchase the editor extension, will it work with all of my wordpress sites/installations?

The license is per-installation. (But OK to use in a test and production version of the same site).

what do you mean by “But OK to use in a test and production version of the same site”? Do you mean that if I have several wordpress installations for one domain, i can use one license for all of them?

No. I mean if you have a website like my.site.com and you also have a copy of that site like test.site.com where people don’t use the test site but you use it to test out changes before applying them to the official my.site.com, then it is OK to install the plugin on both under the same license.