I saw enough people remembering that in the comments, and you also recall the audience laughing, so I think it's fair to say it was altered by the company.
I can't really contribute to this since I'm pretty sure I've never seen Moonraker, but I do remember Jaws since he haunted my nightmares for a while when I was little. I think I was watching The Spy Who Loved Me with my parents on tv but I was too young to actually follow the plot, so my mind just fixated itself on the character of Jaws and found him horrific enough, lol. There's also a scene of a boy being dragged inside an ant nest by a swarm of ants in the desert that I still remember from that period of my life, but I can't find out which movie it was from.