"[![Screenshot of vacation tool. The text reads "Inactive Moderators (vacation, work, personal, etc)" with a button underneath that reads "Record myself as present / active" and a checkbox with label 'on all sites I moderate'][3]][2]"
@technastic_tc oh, that's simple, but many people could have told you that. [3] is a smaller image (50% of the original, [2]). Just try to edit the post and use [2]][2] and you'll see how it looks like in the preview.
@technastic_tc (almost) all pages/tools are site-specific (for regular users as well as moderators). It makes sense to only mention that when it's different (such as the checkbox for 'on all sites I moderate').
'All sites' means all sites in the network. I'm not even sure what happens when you uncheck that box, if the vacation will carry over to the meta site. It doesn't matter, since moderators rarely visit the dashboard there.
I think the answer is fine as it is right now. Regular users don't profit from the tool, and most moderators (at least on my sites) don't use it either. I completely understand you're curious, but there are a lot more interesting things to discover on Stack Exchange.