In the spirit of discovery, I have once again embarked on a project to determine exactly how many “closing reports” are required to actually show a business as closed on their Places Page. The answer: Only 2 even if you are Google.
Update 12:39: 16 minutes after it was reported as closed, the listing had the yellow flag removed and it once again notes that there are unverified edits.
Update 1:33: After a few more reported closing reports, Google Mt View has once again been closed for the past 30 minutes. The experiment is open to all. Be sure to use a throw away Google account.
Update 1:40: It is once again showing as open and no longer showing as having unverified edits.
Update 5:27: Deanna Yick has just forwarded me this clarification from Google that I have posted it and responded.