AlaCowboy, I don't see this optimistically. Similar proposals have repeatedly been made before, and there was no specific reaction from WGT. If they're apparently not interested in appointing a veteran such as Nivlac to the post, they're unlikely to do so in relation to anyone else, especially (relative) newcomers.
To their defence, it must be said that inexpert moderators can do lots of damage, mess up the forums database, etc. One must therefore be extremely careful as to who should be entrusted with moderator duties. I've had my share of troubles with this a couple of times when I (as forum admin) assigned moderator duties to persons who later, unfortunately, became overwhelmed by the task and started creating more havoc than order in the forums. All I could do was remove the moderator(s) and restore the forums database from a back-up.
As to short 1 or 2-hour "time blocks", it probably wouldn't be the ideal way. An ideal moderator is someone who needs to be online a lot of the time throughout the day, because he/she is working on the PC. I monitor forums where I'm a moderator via email notifications. Whenever throughout the day these arrive & I happen to be online, I check the content of submissions.
DISCLAIMER: I, as Faterson, cannot be a moderator here, due to past controversies. I'm therefore not lobbying on my behalf in posts submitted to this thread. I could, at most, be one of the pseudonymous mods. If there was a WGTmod2 operating in these forums, for example, and no one (except WGT) had an idea who that WGTmod2 was, everything would be fine. The only thing that would matter would be for WGTmod2 to perform his/her job well; if he/she didn't, forum members could always ask WGT to depose that particular moderator.
I would estimate the probability of WGT installing forum moderators as a result of the discussions in this thread at about 2% or 3%. 