Your comments

As TKP said only mods can delete posts but you can do something like 3 periods or sorry or 1 period or ~deleted~.
@TKP

Actually you only lose 5 points and 1 kill from your battle stats
That is actually a good idea I might make one of those.

But yeah there is no guide for how to use this, if you know how to use star ladder you know how to use this or you can do what ^He^ said
Mods would probably see through the stars (Or have an option to) to check if it is someone saying the F word or just someone doing four stars *.
Get a video and report him in Game Violators.
The Developers are actually monitoring your rating you just cane see them. The developers might bring back them someday though.