I think that the amnesty is a lovely idea.
I've noticed a couple of times that even entirely innocent moderators or other important members sometimes showed an unjustifiable smite on their reputations for quite long periods. I wondered whether they were worn with a sort of pride, like unjustly earned Scarlet Letters.
Perhaps in the future, a negative smite could just last for a specific period, e.g. six months or perhaps a year.