By this I mean making up culturally-relevant curse words for your characters to use in-story. In a serious context, of course: we are not discussing "what the frickeldyfrack" right now. ^^
Anyway, I'm a little 50/50 on this. When it's done badly, it can turn an otherwise compelling story into kind of a cringefest. '~'
But when it's done with a little consideration to the sound of the 'replacement words' and whatnot (curse words tend to have a certain 'sharpness' that makes them roll right off the tongue), I think it can work. Sometimes you have no other choice.
For instance, I'm writing a story in which the culture centers around a certain major religion. What's more, this religion doesn't have any gods or particularly prominent figures, which means common phrases like "oh my god" kinda have to disappear completely. :[ There's nothing to replace them with (although I am working on it).
This is actually a bigger problem for me personally, because I'm not really fond of profanity, so the little that I do use is all religiously-affiliated. 6_6; I've managed to keep 'damn', and 'hell' I justified by making it profane for a different reason: the religion in question doesn't have a concept of hell, so making references to it is considered pagan (acknowledging the existence of other religions ftw~).
Anyway, I have made a few thematically-appropriate 'replacement words'. I even have a list of possible ones...I just can never bring myself to use them. XD Every time an opportunity comes up, I just think "well, do I really want to risk breaking the momentum of this scene with a weird word?" And so I opt out of it altogether.
I've only used a replacement 3 times so far in this 29,000-word story: I think that statistic alone speaks volumes about how comfortable I am with this notion. ^^;