The code was fine, I just forgot a set of braces.

Code:
on @*:TEXT:*:[color:red]#Channel[/color]:{
  if ($regex($1-,/\b([color:red]zzzz[/color]|[color:red]kkkk[/color])\b/igS)) {
    if ($regml(0) >= 2) kick $chan $nick 
    else {
      var %address = $remove($address($nick,2),*,!,@)
      hinc -m Warnings %address
      if ($hget(Warnings,%address) == 1) msg $chan Warning $nick $+ , You are not allowed to say $regml(1) in this channel.
      else [color:red]{[/color]
        kick $chan $nick
        hdel Warnings %address
      [color:red]}[/color]
    }
  }
}