Take, for example, this question, in which it is not clear what the asker is asking. I had flagged this question as "unclear what you're asking" which was deemed helpful, but apparently no action has been taken on it. Why hasn't the question been placed on hold, or are there close votes on it, but not enough to place it on hold?
Your flag was a recommend closure flag. Moderators do not see these- they go to the Close Votes queue. They get dismissed as helpful once the first person agrees with you and votes to close the question. Review then continues from that point with a close vote on the question instead of a flag.
There are currently four close votes on that question, and review is still active.