I believe the "suspended" (one word star) referred to above is: . The highlighted bar is the line that was starred, and, indeed, the context is pretty limited.
In the ServerFault room, there are a lot of things that get starred. From XKCD comics that are semi-related to the conversation at hand, to lolcat and cat gifs when people let off steam on an evening (like last night after The Town Hall chat finished).
It's not quite right to judge a room by it's stars. Indeed, one of ServerFault's many own memes is taking a quote out of context. Although that's why the transcript is provided (and, in a high-traffic room like The Comms Room, it's easier to find a whole conversation in it's context).
There are uses for the star wall though. Currently (owner-pinned) on the ServerFault star wall are these two:
Statistics about the elections, and a suggestion for a modified FaQ thread. Quite important for the site, really, and it gets a lot more visiblity in the chat room as just left on meta.
Also, in The Town Hall chat, they are used to star questions for the moderator candidates.
There may be a few "odd" choices of stars, in every room, but overall they do more good than bad. The fact that Posse Comitatus is a low-traffic room makes it harder to find things in context which is not really a fault of the star system.