I tried turning open chat on (and yes, figuring out how was a bit more trouble than I think it should be). But once it was turned on, it was not at all obvious to me which words would be filtered for the under 18 audience.
I think the feature would be a lot more useful if the words to be filtered showed up in a different color. As it is, I was afraid it would impede communication (too many ... in sentences), so I regretfully turned it off.
There is a color coding to the Open Chat, as outlined in our original announcement about the Open Chat:
New 18+ Open Chat -> will be filtered for profanity but will allow numbers and names. -> will see 3 colors in the chat window: white means 13+ can see it, yellow means 18+ can see it, red is filtered