The highly-rated 22-year-old has been in discussions over a move to Cappielow after knocking back a new deal with First Division new boys Dumbarton.
Wallace starred as the part-timers won the Second Division play-offs last season and is now primed to earn himself a move to full-time football with Ton.
Moore told the Tele: "He is a right midfielder and a good player - he is still young but we have high hopes for him.
"He is a good strong running player and can play across midfield. He is not a winger-type but he can play right or play in one, as he is very versatile.
"Big Mark [McNally, assistant boss] watched him in four or five games last season and was very impressed with him.
"He has been very, very impressive in the training sessions over the past week as well and we are very excited about what he would give us."
Should he finalise his move then Wallace will get his first run out in a Ton shirt in a closed-doors match against Rapid Bucharest at Grangemouth this afternoon.
Moore has promised to give every player in the travelling squad a chance to impress - but he is desperate none of them suffer any injuries.
He said: "We will not play everybody for 90 minutes, we will spread it out - one of the biggest worries for us is somebody picking up an injury.
"Hopefully we have got them fit enough for this game. We don't want to have anyone picking up any daft wee injuries or anything worse. That is the fear when matches start and when the contact comes in. We're hoping we can get through this season with a bit more luck than we did last year."
However, Moore accepts that those who have arrived at Cappielow on trial will be eager to catch the eye at Grangemouth.
And the Ton gaffer believes the match will allow him to run the rule over prospective signings. He said: "We've obviously got guys in that we are looking at.
"We will have a better idea about them when we see them in a competitive environment.
"You can't always grasp enough information about a player simply by watching them in training sessions and in the gym.
"It is how a player reacts in games and in match-like situations that we are interested in and we will see how they stand up against the Romanians."
Rapid enjoyed their last encounter with Scottish opposition - defeating Dunfermline a year ago - and Moore expects his charges to be given a stern examination this afternoon.
He added: "By all accounts the team that are coming over have a bit of quality - I think they came over to play Dunfermline last year and gave them a bit of a trouncing.
"We know it is not going to be easy but we have told the boys that it is not the results that are important at the moment.
"It is about how they perform in the games and for the players to prove to us that they can step into the team and do a job for us. This game will give us a wee guide."