Can I temporarily stop update notifications for one project only? Is there a way I can tell Drupal not to notify me about a particular version of a module? For example, if it isn't security related and I choose not to update one module but would like to receive notifications about other modules (or future versions of the module in question)?

The Drush command from one of the answers to this question is close to what I want except if there are future security updates I would still like to know about it, just no more notifications for this particular version.

drush pm-updatecode --lock=module_to_ignore
See Update Advanced module:


  Extends the administrative interface for Drupal core's "Update status"
  module. In particular, the per-project settings to ignore certain
  projects or even specific releases, is absent in the core version of
  the module. The "Update status advanced settings" module restores
  these settings, and might eventually provide additional functionality
  for the core "Update status" module.