The three options for moderators are now "Remove Post," "Remove, report, and ban," and "Ban Member," mirroring the three buttons that appear on a post that is automatically tagged as spam.
Spam management can be a big job in big communities (like ours), so it's nice to see that the team at Google+ is making it even easier to deal with. Hopefully we'll continue to see more ways for moderators to provide a top-notch experience for their community members.
Thanks to +Brian Glick for posting this update and +Simon Janssens de Varebeke for sharing it to our community!