Treadwell said:

You (or those reporting it) might've been misled by the fact that the scene was altered during a later stage of editing the film....before release. When Sotheby's auctioned off a bunch of cels from the film, one of them showed Baby Herman inserting a bill or two into his assistant's cleavage (remember, he was sending her off to bet on a horse for him). In the final film, this shot is replaced by a closeup of Eddie.

There were a few late changes like this, toning down some of the adult elements. ADR of Wise Ass saying "bull schtick" instead of the other word, and Maroon telling Eddie he has a lot of "brass" instead of balls.

...but, again, these were pre-release "changes", if that is even the right word.

That would make sense. I remembered reading that something was changed in that scene but couldn't remember what it was or why and none of the video versions appear to be any different.

This is another one of those movies where it's hard to separate fact from fiction on a lot of the supposed changes. There are a lot of unsubstantiated rumors as well as a few edits made to the TV version that have been listed as edits to the home version, instead.

edit: I was able to acquire the German HDTV rip and it's the censored version.