Editz allows your readers to become citizen editors.

Author:BraveNewCode Inc. (profile at wordpress.org)
WordPress version required:2.6
WordPress version tested:3.3.2
Plugin version:1.1
Added to WordPress repository:06-08-2010
Last updated:12-01-2012
Warning! This plugin has not been updated in over 2 years. It may no longer be maintained or supported and may have compatibility issues when used with more recent versions of WordPress.
Rating, %:20
Rated by:1
Plugin URI:http://editz.com/wordpress
Total downloads:1 160
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Allow your readers to become citizen editors. Editz is a free service that allows your readers to post spelling, grammar, factual, and other errors straight to you. After you or any other wordpress admin approves the edit, the Editz plugin will automatically fix the error. It’s like magic.

You can learn a bit more about it by watching this video: http://www.youtube.com/watch?v=858FDGwIp2g