CHAOS members have (had?) the ability to edit posts without bumping:
Because they are doing so many edits at once, CHAOS operates in a special mode where editing a title does not bump it to the home page.
I moderate at Writers.SE, and I can attest that this ability would be extremely beneficial to mods as well, and for the same reasons. On beta sites, wide-ranging changes are not infrequent. An established tag might be ruled problematic; a certain class of questions might need cleanup; etc. etc.. When this happens, the ensuing edits flood the front page with old content (frequently the somewhat problematic content the new change has come to address...). Furthermore, since beta sites are much less active than established ones, this flood can drown out recent activity, and then wallow around on the front page for some time.
I propose, then, the implementation of a moderator tool for editing without bumping. The value to beta sites is clear; the danger of abuse, as a mod tool, is nonexistent.