This plugin allows you to enter in a set of words that are unacceptable for your site. If a user either writes a blog post, or comments, this plugin will replace the text with bullets. The settings page is in the Tools Menu. There will be more options regarding settings in future releases. This is a simple way to manage unacceptable words on your site.
It is in a very simple form as I built this for a client who needed a very simple way to manage profanity on their site in "the_content", "comments_text', and 'the_title' all the time.
Any ideas thoughts about what else this plugin can do is appreciated.
You can download the plugin at: http://wordpress.org/extend/plugins/wp-stop-profanity/