Heh, why didn't I think of that? :p Actually, even the words it does filter, will still be seen by the channel. It will just be a trigger for the bot to take action. There is no way to pass the text through the bot before it reaches the channel (unless you are using a botnet, but that is a different story).
Basically the bot will see someone say something it doesn't like and kick them off the channel as a warning. Although you can set a flag so it bans them instead. Or, as I said before, make it do just about anything.