I think it's a different warning system to AdventChildren.net, or at least the one I remember. It's a sort of new inbuilt feature for vBulletin and it's better than our previous system. We're still messing around with it at the moment which is why we haven't said anything about it yet but we'll put something official up soon. Dante made it pretty clear but here's a quick break down of it.
Spamming - 2 point warning, expires in two weeks
Flaming/Abuse - 5 point warning, expires in two weeks
Posting Pornography - 10 point warning, expires in a month (unless it's used to troll)
Spammed Advertisements - 15 point warning, never expires
Hacking (accounts or forums) - 15 point warning, never expires
Duplicate Forums - 15 point warning, never expires
Get 10 points and you get suspended for 10 days. You also get suspended if you get 3 infractions and it lasts until one of those infractions expires.
Get 15 points and you're permanently banned. Get up to 5 infractions without any expiring and you also get permanently banned.
That's all of it really

Hopefully it won't have to be used much but it's good to have it there just in case.