The other moderator could organize information sent by the participants in order to make a report at the end of the topic. Moderators can encourage students in their work themselves or have a group of their students doing so. Regarding splitting the work between two moderators, it would be a good idea to decide in advance who will do what. Participants do not need to know this. The project should run smoothly as long as the two moderators each know what they have to do and when.
Time lines are very important.
It is also important to post time lines from time to time and remind participants of time lines. Moderation is considerably easier if you are just doing the moderating. Keeping track of people who take part without registering is difficult. Maybe one of the moderators should just keep track of the e- mail traffic and its source. This person could also take care of the infrequent inappropriate message.