Yes.
Semi auto approval only works on generic or imgflip supplied templates.
Custom templates, like I use, require up to 4 hours to get approved, because someone, usually a site mod, still has to look at it.
ABOUT THE APPROVE IMAGES THAT APPEAR SFW, THERE IS A PROBLEM WITH THAT. WE HAVE THE SAME THING IN MEMES OVERLOAD. IT ACTUALLY TAKES LONGER FOR AN IMAGE TO BE APPROVED WITH THIS CHOICE. SO IT MIGHT BE FASTER TO APPROVE ALL POSTS.