There were 34 complaints objecting to "cuts" and "censorship" after some of the swearing was cut out of the programme which went out before the watershed on Gold on July 20.
The remaining members of the cult comedy act - John Cleese, Michael Palin, Eric Idle, Terry Gilliam and Terry Jones - got back together in London for a string of gigs at the 02 Arena, which included several near-the-knuckle routines and swearing.
An Ofcom spokesman said: "All our licensees are required to comply with our broadcasting rules, which make clear that the most offensive language cannot be shown on television before the watershed.
"As a post-transmission regulator, we are not involved in editorial decision making and can only investigate programmes or take action against any channel after a programme's broadcast."
Monty Python's Flying Circus was made for TV between 1969 and 1974 and generations of fans can recite lines and whole sketches. The comedy troupe also made a string of hit films including Life Of Brian and The Meaning of Life.
Sixth Python Graham Chapman died of cancer in 1989, aged 48.