You have a full control over moderation of reviews on your site. There is a checkbox Moderation of Reviews on the Review Reminder tab in the plugin's settings. If you enable this checkbox, all reviews submitted via aggregated review forms will need to be manually reviewed and approved before publication on your site.
If you enable Trust Badges and opt in for publication of verified copies of all reviews on www.cusrev.com, you won't be able to moderate copies of reviews published on www.cusrev.com. However, you still will be able to moderate these reviews on your site. Shop owners cannot moderate verified copies of reviews on www.cusrev.com because this will compromise their authenticity and undermine trust. If you work with a customer and resolve their issue, the customer has a possibility to update their review. You can also post a public response to a review as explained here: how to reply to reviews.
If you disable Trust Badges option, all verified copies of all reviews related to your shop will be immediately hidden and the page of your shop on www.cusrev.com will be deleted.
WooCommerce reviews submitted directly on pages of individual products on your site can also be moderated. This is controlled by Before a comment appears option in the standard WordPress settings (menu path Settings > Discussion).