Well, I'm familiar with the english language, and can guess a standard list of profanity and bodily referances to ban, but are there other words that we need to ban, or similar words in other languages?
Or... for some of these words do we want to go to the work of building in a "WoTM translater" that would change SOME of these words into Elfspeak?
noob, n00b, newbie, > sapling, cub, pup, mump,
poop, crap, s#!7 > dung, wolfdung, trolldung, elfdung, etc
Each term would have to be looked at based on the race or tribe of the character to determine an appropriate word replacement. This could mean a lot of work, but the effort would be unique for a game world, and would make things flow easier, instead of geting a pop up saying "you can't say that" or having part of your message ####ed out.
By the way, while the engine supports alternate languages, it would be far too much work to try and incorperate anything but specific words into a translator. A complete english > german > dutch > russian > spanish > (your language here) would be more trouble and effort than the game itself is becoming.