Np, But i'm going to be working off like 5 year old memory here...

basically... in the directory you put this script in, there should be a settings.ini with a section called [badwords] in it...
Make a section called [badwordsadmins] then under that put the nicks you want to be exempt from it as "nick=admin" "nick2=admin" and so on... putting each one on a new line.

Then change the start of the on text from

on @:text::$($readini($+(",$scriptdirsettings.ini,"), Badwords, Channels)): {
var %x 1

to

on @:text::$($readini($+(",$scriptdirsettings.ini,"), Badwords, Channels)): {
if ( $readini($+(",$scriptdirsettings.ini,"), Badwordsadmins, $nick ) == admin ) { halt }
var %x 1

and that should fix it to ignore anything from a nick listed in the settings.ini under badwordsadmins... which again should look like

[Badwordsadmins]
nick=admin
nick2=admin
PyThOn=admin
Yoinx=admin

Assuming nick, nick2, PyThOn, and Yoinx where admins.

But, since I'm rusty with this stuff... It could also just not work... or just start banning everyone... so use at your own risk.