BP has a relatively new initiative regarding D&I (diversity and inclusion). Basically, each employee has to consider the audience at all times. In practice, this means not calling your friend a stupid cunt if there are other people around, since you don't know what their reaction will be. I think it is always the right of the listener to be bothered by things that are said in their presence, and it is our responsibility to try not to offend people. In a cultural/sociological/whatever sense, we can probably all agree that it would be better if words didn't have such power. In practice, you know you can't call your mother a dumb bitch, even if it doesn't mean anything, and even if it is something you routinely call your close personal friends, with affection. Also, just because some people are receptive to certain words or phrases from one peer group, it's not realistic to expect them to be receptive to them from other peer groups. I might, under certain circumstances, call someone a "cock-whore" and have it be taken in the spirit it was intended, with a joyful smile - whereas someone else might call that same person that, and get a very different reception.
The beauty of the internet is that I can be all disrespectful, and not have any real negative fallout. It's important to remember that this does not necessarily translate well to the real world.