In theory I'm in favor of these sort of rules, but I hope they leave some wiggle room for common sense, preferably erroring on the side of tolerance.
The answer depends, of course, on the opinion the moral busybodies have of you, whether that's based on your job performance or your immutable characteristics. I've seen some pretty arbitrary outcomes from policies like this, it generally has the effect of making the IMs and intranet forums less useful, since people can't feel at ease no matter how well-intentioned they are.
It associates sex with violence and destruction.
A similar thing used to happen with "gay", which kids would use as an adjective for frustrating or annoying situations.
My preferences notwithstanding, it's still better to be clearer about what's happening. "Fucking up that variable" says very little about the cause of the problem, and its possible solution.
If you can't deal with criticism of your code, maybe working at a big tech firm isn't for you?
Rather surprised that people were getting away with that in the first place.
Edit: just realised that, like codes of conduct, the key difference is that now the rule also applies to the people at the top.