I didn't realize that moderate Islam needed to be modified, unless you are inferring that terrorists are springing from the moderates. I think it's clear that the hi-jackers of Islam are not really of Islam, but only wrapping themselves in the trappings of Islam to gain a modicum of support from the world of Islam.
Should that be the case, there would be no need to expect Islam to modify itself, but only to bathe in the rinse water now that it has itself all lathered up and has finally recognized who the true enemies of Islam are -- the terrorists and extremists, of course, who are slandering the name of Allah in ways that even the unbelievers would be unable to accomplish, not knowing Allah.
I think an immediate fatwah would be the way to go, rather than just vocalizing their dis-pleasure with the hi-jackers of Islam. The broadcast of an immediate fatwah would no doubt help to quieten those who would condemn moderate Islam -- those who are willing to throw the baby out with the bathwater. Would you agree?
But if it turns out that terrorism is but an aspect of moderate Islam, I would not expect to see any changes in terrorist activities regardless of how loudly the Islam community publicly denounces it. It will not take long to see if the terrorist activity continues and the admonishions of those who speak on behalf of Allah remain unheeded.
And it won't take long to see who wields the power over the world of Islam.
If the Qu'ran itself is terroristic and it is, and the Attack on the United States was filled with citizens of Mecca which is the location that All of Islam prostrates to 5 times a day, who the heck is the REAL Islam, and where are they based out of, Podunk Idaho? Are you forgetting that all these Fatwahs and radical newspaper articles calling for the destruction of America and Israel are coming from Newspaper Offices based in DICTATORSHIPS? You are living proof that Denial is not just a river in Egypt.