It does work in censorship options as that only affects posts, thread titles and PMs. You would however mess up your forum if the word was used in the style RVM.
@chikru
In censorship options make sure you have a replacement character set. Put the terms into curly brackets, make sure each term is separated by a space. If you expect to see the terms censored on old posts you will have to rebuild the post cache in General Update Tools.
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