My first thought is this would be a great chores list for parents to set up for kids. Does it have "flag flipped at x'oclock" type logging? An option to require/allow an image, or flag-creator-approval would be cool too.
Yes it shows 'last updated x ago'. It also allows to create 'only me can change' flags for flags you want to be the only one who can change, others will only have a 'read only' access.