Neither do I, it seems what's used to find swears in titles is completely different from what is used to search for them to censor them out in posts. The title searching setup is just immensely more thorough in all of the wrong ways.
If I had to make a guess, it was intended to give you an idea of what the site doesn't allow, and advice you to NOT put an of the following in the title. Sound idea I suppose, terrible execution.
Or, maybe they just know how broken the system is, and instead of fixing it they just have it say "Uh, yeah, these words aren't allowed in titles under any circumstances, so, uh... Yeah, remove what ever is in this sequence that could potentially spell a swear word, or something.".
I'd like to hope it's not the latter.
Right back @Asriel again (heh, puns)
That second one is far better, it flat out tells you only the word that you are using which you aren't allowed to rather than playing "where's waldo, mature edition". Even so, we'd need a functioning system first before that would do us any good.