Control panel? You mean the User Interface for you router? if so what router and version do you have? In most routers you can block web sites by keywords or domains and set the NTP (Network Time Protocol). If you have teenagers and want to restrict the time they can access the internet you can go to the QoS in your router and set that up.
Its firmware is v2.02.2 And yes, I was refering to the interface. I also have done what you said, where it requests a site that you want blocked, so I put whatever in there, then try and access that site, and it still accesses it perfectly fine. Same goes for internet time restrictions, I'll set what days and times I want the internet to be on and for what computers, come a day or time its supposed to be off, its still on.