Thanks for taking the time to respond. I have opened a support case with Kentico to help determine if this is a bug or just me misinterpreting the docs.
Here's the scenario:
1) Editable text web part set on page with visibility restrictions set to specific roles and a requirement that the user be authenticated.
2) Page Crawler search index so to index pages and operate under the context of the Public Anonymous User
3) Search results web part set to display results using this Page Crawler index
When performing a search, the smart search results web part outputs content in the search results that is inside of the visibility-restricted web part. Based on my read of the documentation, the crawler should not index this content since the Public Anonymous user is not in one of the allowed visibility groups.
Perhaps the user restriction of the crawler only applies at the page level, not specific web parts?