I think this is working as designed, but the documentation is not as clear
as I would like.

The question involves access levels and super lists.

I have a super list, call it SUPER-L, that has sub-lists SUB1-L and SUB2-l,
plus it has members directly subscribed to it.

The SUPER-L list has

  Send=Editor,hold
  Editor= user@node,(SUPER-L),(OTHER-L)
  sub-lists= SUB1-L,SUB2-L

The doc defines:
  Editor= net-address1,net-address2|access-level1,...
and under access-level is this type
  (listname)         Only the subscribers of the named list have access to
the information.

Email from people directly subscribed to SUPER-L are immediately sent and
not modertated, but email from people subscribed via one of the SUBx-L lists
are moderated.  Since the people are not directly subscribed to the "named"
list, but to a sub-list, I suspect that this is the reason, but is it the
desired result?

/ahw