How can you report someone for saying murloc? Quoting EA Sports... It's in the game!
The short answer: I press "report spam" because it's spam and disallows people to use the trade channel what it's meant for.

Quote Originally Posted by 'pinotnoir',index.php?page=Thread&postID=131881#po st131881
I am shocked by the number of people who report constantly. I have been playing wow since it released and I only reported people who curse me out in tells which has only happened maybe a few times. I dont have time to waste reporting every person who says something I dont like in this game. I guess the people who always say Reported are not kidding. They need to make a new title for wotlk called Jr. Report Police. How can you report someone for saying murloc? Quoting EA Sports... It's in the game!
The long answer:
I think you're completely missing the point. Trade chat is meant for trading and general chat is meant for general chat. Any general chat in the trade channel is spam by definition. It requires no extra effort to post it in /1. There are people who actually use the trade channel for what it was made for and those people's messages get lost because of the spam. The spam you describe basically disallows people to use a part of the game because their messages get wiped away instantly by the spam.
I don't report all the spam there, but I will definitely start reporting when there's a constant flow of spam in that channel which makes it impossible for me to track the actual trade messages.