There should be a way for Serato to store the points that you have chosen to censor on a song so that you can reuse them should you need to clean it up again in the future.

They should work similar to cue points except that they would be a section of the song instead of a point in time. Once these sections are set and saved (on a per song basis), you could then flip a master switch on the interface for censored or uncensored and you would never have to worry about letting curses slip at a "clean" party (unless you missed some when you were editing the songs).

You could also have various censor styles for each censor point/section like reverse, bleep and/or cutting the sound out for a fraction of a second.