I agree, it is somehow replacing the "Please don't use inappropriate language", but it can get you in a few circumstances that I've had to deal with:
"Hey Opt. Come online." (The period and come make the swear filter think I'm saying "Opt.com")
"Dude. Organic stuff is way better." (The period and organic make the swear filter think I'm saying "Dude.org")

It was intended for situations such as:
"My email is [email protected]" (giving away critical account information)
"Go to example.com and enter your Graal info for free items" (account fishers)