I think it reflects poorly on me that my first thought was "hell yeah!"
(I need to grow up.)
Anyway, I tried not to swear in front of my children when they were small, but occasional said something like "oh shit!" I did teach them the difference between words that are considered swear words and words that aren't, and discouraged them from making it a habit to use swear words, though I never made a big deal about the occasional slip. (how could I? I would have been such a hypocrite)
I feel I did an OK job because for several years my kids thought the phrase "the F word" referred to the word "fat" because they knew they they should never call another person fat, but were blissfully unaware of any worse words beginning with F. When one of my DD's was 10, she was talking about the school bus and commented that "swear words are words that adults and kids both use, but never in front of each."
One day after school, one of my DDs got in the car and announced that "all boys are a$$holes." Rather than commenting on her choice of words, I just asked what happened and talked her through her day. Sometimes, the best word to express one's self isn't one that is socially approved, but it really communicates where you are and how you feel better than any nice words could.
My kids are teens now. For awhile, I talked to them about exactly what different words mean and how "bad" they are considered, but Urban Dictionary has sadly made that parenting task obsolete.
I think swear words work better if they are seldom used. Its really the overuse of swear words that I'm opposed to. If we seldom use them, then we have something special to pull out when we are really upset. If my kids use a swear word out of laziness at thinking about a more precise word to express themselves, I tease them about and we think up (or look up) more accurate terms. However, if they are expressing genuine emotion, I just meet them exactly where they are.