Yeah, there's no reason we have to appoint only one new mod. I mean SP, andwhy, and DT have all complained at some point of being overworked by their moderating duties, so having 2 or 3 new mods might lighten the burden for each one a bit.
So if I'm hearing correctly, the list of candidates so far is Noxid, Gir, Shadow, Malpercio, and myself? I think cultr1 should be a candidate too; he seems relatively passionate about the forums, he knows when to have a good time and when to be serious, and this whole thread was of his creation too.
And about the whole explaining thing, I suppose people are entitled to moderate as they see fit (within reason), but suffice it to say that, if I become a moderator, I will do my best to explain all of my decisions at least minimally. If it blows up in my face, then you can all laugh at me and say "I told you so," but, until then, I'm sticking to my guns, just not firing them.
If we're going to have more than 1 new mod, perhaps that should be reflected in the voting process. Maybe allow people to vote for 1, 2, or 3 candidates or have a system like the one used in the Hell Mod Contest. If we want to preserve anonymity like explosive says, votes could be PMed to DT.