I'd say this game is fit for anyone of any age.
Violence:
It's not like a graphical blood-thirsty rampage or something. There's no blood, no real violence at all (except for whacking an enemy with an extremely tiny pixel sword until it falls over and disappears magically). Really unless you're keeping your child in a safe magical bubble, it's perfectly fine to play. There is no real violence at all.
Sex:
None at all. Females have large breasts, I suppose, but as Southern-Majesty stated, it's not like they're naked or anything. Fully clothed. Even if you take off your character's equipped clothing, they just display 'default' clothing instead.
Profanity:
The word censor is ridiculous. You shouldn't really worry about this. It blocks even a lot of normal words like 'class' or 'raccoon'.
I certainly think you can let your child play the game. But like the others said, play it yourself first, and you'll see. Even ten minutes in-game is enough, really.
__________________
|