It's not offensive when other people use "that word". I'm white and I have used it many times to many different audiences. You're being intellectually dishonest.If it's OK for black folk to use that word without consequence then it shouldn't be so shocking or offensive when others use it.
OU frat boys could have looked into the camera and said "that word" 10 times in a row without any other context and they'd still be on campus.