The one who is getting the present, is always getting the version of the country the buyer lives in.
So yes, it is possible to circumvent low violence with trading AND gifting.
However, a Publisher might have decided to prevent someone from installing the game when the IP is in a country where the game is blocked. So far this is only true for 1 game from Capcom so far, where I know about. The Game was Dead Rising 2 : Off the Record. That one for example is not installable in Germany, even if you get it gifted or traded, but the store gives me a warning if I visit it via cc=us.
It is also possible to gift it to someone where it is not available in the store at all. For example, I gave Space Marine to a British friend on Steam, because it was not available in his country on Steam store before release and a while after. ( wave @ Game )
That is still governed where you live at. For example, a friend gifted me Deus Ex HR Preorder. While the game was already out in the US where he lives, I had to wait the 3 extra days to play it.