Look I've experienced real racism, and seen it. For example, back in the days of Salt nightclub in Melbourne, when they had "international student" night (code for Asian night) I was told that even though I'd arrived with 5 Asian mates, our "ratio of white to Asian isn't high enough to let you in". Admittedly the place was known for knife fights etc. so I just kind of accepted it.
Likewise, I've been at mostly white clubs and had my Asian mates knocked back, or at the very least get padded down much more than my white mates. I've seen this happen to Italians, Middle Easterners, Islanders etc. as well. Sometimes as white blokes we forget how annoying this shit is on a much more regular basis for our ethnic buddies.
And both of those are considered racism by any definition, but as for words? I don't really care unless there's some kind of intent behind it. Someone calls me a white prick and I'll say something equally as stupid back. I've been in confrontations with people before because they were a dickhead, but I wasn't above hurling a racial insult back to 'even the score'. I figure words are fair game, it's really actions that are the problems. And this goes with any kind of political stance someone has.
Its like when I see people whinge that the rich aren't taxed enough, or politicians are bought by corporations etc. I love to say "well what do you do about it?" cause I get out on the streets for the protests as much as I can. I represent my union and my colleagues. It isn't much, but its something. But then you'll see people who do literally nothing, that are just happy to have their stupid, irrelevant, beliefs... and their words. Like it means anything.