Nah, all reports eventually gets viewed. I have all admins on my friends list, everytime report a player, I explain the reason and shows his chat if needed. If there is an admin online, the player gets banned. However, sometimes they don't ban him which made me wonder why. So, one time there was a hacker in the guild spar room who made guild lose points. Both Dread and Snow noob were online, everyone in the room reported the guy but nothing happened. I pm'ed Dread and Snow noob explaining the situation to them. Dread said he was busy with something but, he will go check out (since it was probably more serious that what he was doing). After few minutes Snow noob replied to me saying she is busy with something, and that an admin is checking out the hacker (must be dread).
So basically if you report someone while an admin is online and nothing happened, Then they're busy with something else like viewing toonslab tickets? Or checking uploads? I don't really know but, viewing reports isn't their only job. Therefore, if it was a serious situation (a hacker who is streaking could be a goid example) and there was no was respond from your report, then pm an online admin if found.