For the most part, I treat "Community" like any other user when handling system raised flags. If they are useful, I mark them as such. If they are noise, I dismiss them as such. The Community user has a static flag weight, so our reaction to them is more or less feedback for developers.
Is this feedback from moderators network wide used in any way to help improve the accuracy of system raised flags? Or, would clicking either button suffice?
I'm asking because our reasoning behind declining a flag is now more precise. Does dismissing some as noise help improve the criteria that ultimately generates the flag?
Edit
Yes, thank you Skype, I realize that George Takei asked a similar question regarding powdered drinks on Twitter.