This version has no censorship of any sort, so you'd be fine picking up this version. Do note though that the 3DS version has some extra benefits this version doesn't though, mainly a few new EXchapters (short, 10-20 minute chapters that elaborate on backstory/side events) and the character sprites being re-adjusted to have the proper pixel ratio (they're a bit blurry in the PSP release since they they're the same sprites as the PC version, and weren't adjusted for the new resolution - it's not too bad though, so a lot of people don't even notice), So considering that, you may want to wait for the 3DS version anyway.
That said though, those addtions/changes aren't anything too big, so I'd only really suggest that if you have a 3DS anyway. If you don't, the PSP version's definitely fine.