The inventory adjustment screen is linked to inventory adjustment search instead of to inventory adjustment approval. While the two have a lot in common, the latter doesn't show approved adjustments.
Note that @sbts found this issue in 1.6, but this can't be fixed in 1.6 or 1.7 due to required changes in the API. The earliest we can fix this is in 1.8.
The inventory adjustment screen is linked to inventory adjustment search instead of to inventory adjustment approval. While the two have a lot in common, the latter doesn't show approved adjustments.