ClearPlay has that already.
OK, I just watched the Matt Lauer video on the Clearplay website. They showed a violent fighting scene from "The Matrix." Then they showed the Clearplay edit. They silenced (not bleeped) the man saying the word for his buttocks that starts with A (you can clearly see that he says the word). Then they simply skipped the whole fighting sequence. Was the actual Clearplay version of the Matrix 10 minutes long?
I noticed that they had a version of "Flight 93." They say that they edited Scary Moments and Intense Thematic Elements. So what did they do? End the movie after the guy says "Let's Roll?"