The general thought is that if it makes over a certain amount financially they do.
However, as Google no longer allow direct advertising of porn - they may not as they no longer have any financial interest in it.
I've seen Blogger and Tumblr sites that are chock full of some pretty graphic stuff.
My guess (and it's a guess) is no.
They do have a code of practice for extreme stuff, hate stuff etc. Overstep that and you will get a slap (and be reported to whatever federal authorities operate in your country).
Just worth saying.
Good luck though. Sex sells (which Megadeth never said)
Scritty