Yes, the iPhone will censor your naughty language. But! There are loopholes! It looks like Chris' phone didn't censor him when he used the word "f*cks." The moral: always swear in the plural. And possibly with quotation marks around your swears.
You'll still get censored if you make it onto this site, though. Sorry. Ads, lol.
Since we have to be pretty strict about censr0ing on this site (Wheat Thins™ have very Victorian sensibilities!), I'm tempted to replace all f-bombs with "Facebook-UnJumble-FightSongs-KAYAK." It's like the phonetic alphabet except more app-propriate.