Seriously I read somewhere that someone complained about the word "Sexy" turning up a porn result.
Is that over the top? Maybe. But think about who looks up the word "Sexy" on a live video stream... I think they're on the right track in some way. Well, I don't necessarily think they're doing the right thing like this, but certainly if you have moral qualms with it, feel free to not use their service. I'm not sure this is a reason to stop using their service. Still, I think it might be better if maybe they had a button that said "Yes, redirect me" instead of only waiting five (only five?) seconds. Or, if Justin.tv is really using this to keep bad content off their site, why don't they block those terms completely? It's not like redirecting users to a porn site is the best alternative...not to mention all this bad press.
If a parent has an issue then either talk to your kid about NOT searching for porn or simply block the site.