Open geLanguage_Eng.lng file in Granado Espada\release folder with Notepad. Scroll down and you will see a list of words which are filtered in-game (among other things, like in-game messages). Thanks to llyse for pointing it out here.
The filter is somewhat annoying, since it sometimes affect in-game terms and non-offensive words. For example, puta is censored, but this renders reputation as re****tion. I didn't try to edit the word filters, since it won't affect other players anyway. If you wish to do so, remember to backup the original file. Do it at your own risk.