You give the role Edit rights to the module.  The way the actions are handled, it should only allow, registered users for example, to post to moderated and unmoderated forums.  They should also only see My Settings and other items normal posters should see.  Moderation adds the Moderate action if the user is a moderator of a forum.  The ability for more control can be given by giving users Tab/Page admin permissions.  There are certain things here that seem to need some changing but as for things working according to your title, currently, that is not the case.