Sorry for the wait, when I went to implement this it ended up being quite a bit more of a can of worms than I originally thought because of opting out, preventing certain report-count-padding strategies, etc. It's still on my to-do list, but there are several things above it.
Well! theymos stated that reporter badge is not top priorities in his to-do list.
Is a report of a bump post in a long-forgotten thread worth as much as a report of someone luring Newbies into downloading malware in self-moderated topics?
Reporter badge, if does not have appropriate algorithm, might cause another type of abusement, and shady attacks.
Someone whom hate the forum, for whatsoever reasons, merit system, new rank requirements, might use their newbie accounts to do massive spam, then use their other accounts to run spam-report attacks.
I believe badges will not give reporters any financial benefits, to avoid abusements, certainly; but there will be other attacks for fun or as type of revenge.
I thought about reporter badge, and think of secret figrues of total reports, at which reporters will get their badges. I think it might result in sudden fun and appreciation. Users simply keep doing their reports over time, and at a beautiful day, they will see their badges. For same rank of badges, people might have their randomly lucky numbers, like lucky number of activity for Legendary member rank.
