Have Your Say: What about all that Lolita stuff in anime...?

For a fun time go to the Funimation blog where they announce that their release of "Dance in the Vampire Bund" will be censored. Now I'm all against censorship and everything but checking out the artwork for "Dance in the Vampire Bund" did leave me scratching my head.

The story sure sounds interesting enough: vampires announce to the world that they exist and have used their amassed wealth to buy off Japan's national debt. In return they have gotten a region of their own where their kind can live in peace without being bothered by humans. Mayhem ensues...
 
The censoring troubles have nothing to do with the high level of violence in the show, but rather with the leader of the vampire nation. Ages old, vampire princess Mina (pictured on the left) looks like a pre-teen girl but that doesn't stop her prancing around in erotic lingerie or even taking all her clothes off. This is definitely a show with a serious lolita-fetish.
 
Which brings me to my question: anime (and manga) often feature sexualized images of underage-looking women. And I'm not talking borderline "jailbait" here, but children. Should this be banned? In this specific case, is Funimation right in censoring this material or shouldn't they have bought the license in the first place?
 
Have your say!