Uhm, actually not. But you can keep the plugin in double opt in mode and remove from the confirmation message the confirmation link, just writing in it that a moderator will activate the subscription after some checks.
An alternative is to let them to activate the subscription but manually assign a private preference and send newsletters only to subscribers with that preference active.
See this link for more:
http://www.satollo.net/newsletter-manually-approve-the-subscribers
Bye, Stefano.