I'm not sure if it's late to respond here.But the confusion that 'Requires editing' creates is who is supposed to edit the post. It states, anyone on the site should be able to edit the question to make it more acceptable.
Now let's take an example, a new user posts 'screenshot' of his code. Am I supposed to select 'Looks OK' or 'Requires Editing'. But if selected the 'requires editing' option, that basically means someone on the site just typed it out from the picture. Can't mark it as 'unsalvagable' because rest of the question format is fine.
In my opinion, we should have the following 4:
'(1) Looks OK:' Yes, when there is no issue.
'(2) Requires Edit:(From User)' This is to be selected when the person who asked the hasn't provided complete information regarding the question. For instance, missing logcat, or the error the user is facing. When a reviewer marks it as 'Requires Edit' there will be an option for the reviewer to type a short message (lets say 100 chars) of what is missing and this message is sent to inbox of the question asker so that he can add the required info. This privilege ofcourse can be assigned to high reputation [trusted user in short] people. If the reputation isn't high enough the message should be reviewed by moderator anytime.
Well guess what this could just become a new review-queue for high reputation people [5k+ maybe?]. Review personal Messages sent queue.
'(3) Instant Edit:' Now this is where anyone on the site can edit the question/answer correcting some minor issues like typing errors, replacing image instead of links, formatting text (I've seen many where the code isn't formatted well and the error is embedded in quotes). This option will open the editor for the post and the reviewer can directly make the changes.
'(4) Unsalvagable:' This should remain the same and should be used only when the question is asking for ready-made stuff like "Hey how do I make a chat app?" and not asking for a specific issue, the language is not English and when it seems even asker cannot add anything to question that will make the question sensible.
[Note: Requires Edit (from user) should be disabled if reviewing an answer. I don't think answers would be incomplete and miss significant details.]
This will sort of convert 'TRIAGE' to 'QuadAge', but sounds good update. 🤩Yeah, I have definitely considered wrong meaning of 'TRI-AGE' here. 😓😓