side note: why does having a racially diverse group of friends make it "okay" to tell more racist/race based/racially insensitive/questionable jokes/comments/whatever? shouldn't the exact opposite be true? shouldn't it be now that you are friends with asians/hispanics/black people, you are more aware of your own behavior? i don't understand this at all. ethnic friends does not = a pass.
I think you really have to be aware of the context here and perhaps I didn't do a good job setting the scene. You're talking about people who have been friends for a long time, and a culture that is far less racially charged than (from what I understand) exists in the Mid-west and Southern US - then you have to add partying and a raucous sense of humour. It's not racist 'jokes' more like racist derp. It's nonsense.
It's like, we'll be playing a game and someone will make a little mistake and their sig. other will yell, 'You dumb cunt!' and everyone laughs. Or my gf got a volleyball injury and for the next two weeks I walked around telling everyone, 'she just wouldn't listen..'

With my buddy's native girlfriend, if she gets really excited, I will tell her to chill out, relax, and be more like the grazing buffalo. Don't get the impression that I walk around to people on the street and act this way, and it's not like, "Three guys walk into a bar.." This is just a stupid sort of thing that evolved with a very specific group of people who have been trying to one-up each other in terms of outrageousness for years. If there's anyone else in the room, it doesn't fly. And really, this is the sort of thing that we've lost interest in as we've all gotten older. I was referring back in time.
Actually, the most offended someone got was last summer, when the CFO of my buddy's company came up to another friend's place after the strip club. This is a German company and the CFO is German as well, here on a working Visa. We were all drinking pretty heavy, headed up to order some food, and my friend (who doesn't work for this company) starts goosestepping toward the elevator, saluting along the way like an asshole. The German CFO, not knowing us very well, got very offended and almost left, but after a lot of apologizing and explaining, ended up staying. So, I definitely get what you mean that it's not appropriate for everyone.
Racism gets laughed out of the room - but context is
everything here. Without that, you risk offending someone. We're the type of folks who debate things at length. If there's nothing to debate, we'll debate the bloody weather for an hour. If anyone had any serious racist sentiments, it would get floored for discussion and it would be taken care of. I don't want to play the black girlfriend card here, but I don't think I could be with my partner for the last 6 years if I had racism in my heart. Living in Canada, she has never experienced real racism, other than once in high school when she traveled to Texas for Drum Corps. To her, racism is something you read about in 'Roots' or watch in, 'The Help' - It's just not part of our daily lives.
To me, racism is ridiculous. I don't see why we should treat it with such a solemn respect. I can think of no better way to take the power away from bigotry than to laugh at it.