Yes, unpaid, part-time moderators have the power to remove, edit or vote down anything they find offensive. Please thank them because without their efforts the boards would not be as useful as we think they are. Sometimes the system will hold back comments for special attention.
Users can also highlight comments as being inappropriate.
Generally, though, the majority of stuff that gets posted to the forums, appears as-is. Terms of usage explains about editing of postings. Here is a simpler explanation of the actions taken for offensive or improper postings at DSLreports. We determine how to show it and what to delete from the contents according to the Policy and Opinions of the Owner and the Producers. Every Newspaper and Magazine as well as TV and Radio chooses what to show and include as acceptable content.