And the reverse never occurs.... 
I readily admit trying to adhere to my beliefs, but this thread is about offering an OPTION to ALL Players; not only my personal POV.
Did you notice that implementing the option would require a change to the original context unless you just bleep out words and censor the subtitles? There is also the word budget that needs to be considered. All that has been discussed several times already.
Option A: The writers come up with a toned down dialogue. Consequences: The original dialogue needs to be adapted so both versions contain the same message. By doing so you double the amount of words used, limiting the word budget for the entire game. Way too much work, every company going that route would just record the censored version and skip the adult one entirely. Not an option as far as I am concerned.
Option B: There is no toned down dialogue, instead words are bleeped out and replaced with !@#$%^&*. Consequences: While using a word filter on the subtitles shouldn't be too hard (some engines have it built in), it still represents a certain amount of work that has to be paid for and that requires time to implement and test. The bleeping would require someone to play an additional soundeffect on top of the dialogue, which is kind of difficult to do correctly. It would require that two tracks can be played simultanousely or that the sound can skip forward for the length of the bleep. I can see half a dozen tricky issues with that alone. Also, the writers might not be okay with this method because it changes how the dialogue is received by the player, it is possible that some context is going to be lost.
So in the end each option has a significant impact on the budget (time & money) and would only be used by a small number of people who most likely would play the game without that option, too. There is no incentive for BioWare to go to all that trouble, it's not like they'd suddendly get additional income as a result.
Elhanan, you repeated yourself in your last dozen posts. While I applaud you for not simply copy/pasting your message and actually using different words, you have asked for an option/toggle in each of them. Seriously, repeating yourself is not going to change anything, your voice only counts once. ^^
More importantly, the arguments against you have been listed (some even by a BioWare employee himself) in this thread already, so your crusade here is somewhat misplaced.
It reminds me a little of a child who got told that they won't get a toy and who's still demanding it, "But I wanna!". No offense.