This board has no concept of context unless it is being used against posters themselves. There's nothing in the board rules about context though the only time it is brought up tends to be when someone who is a regular troublemaker gets his hand slapped and is told, "Based on your history with so-and-so..."
That said, I see why JKTim issued the warning. There are many sensitive people on this board, sensitive especially to issues of race. I myself tend to be quite touchy when I feel that Arabs are mischaracterized in the media or I see something posted by a fellow member that could be deemed hateful or insulting.
There are also however people who take it WAY too far. Good Will Riker, for instance who seems to believe everyone in the world is out to insult, badmouth, dehumanize, or marginalize Asian-Americans.
I could understand if, in this instance, the usage came from someone we know to be hateful of other cultures, or if Trekker had actually posted something along the lines of, "I hate japs!" but come on! Trekker is a self-described misanthrope, yes, and hopefully he's on what will be a fantastic date tonight, but I have to chime in and say that based on JKTim's history with Trekker, that this might be a bit of an over-reaction.
As Gloria25th points out, similar usage of the word has been friendlied in GM&TV by jkladis, who is about as like-minded a mod as anyone could possibly be with JKTim. I see no reason why, given the satirical nature of the post and the context of the situation the infraction and ban should not be immediately rescinded beyond the obvious factor that mods are probably sleeping, traveling, or on holiday at the moment.
On topic: I enjoyed the film thoroughly. Upon my second viewing however, I found the ferry scene to be quite deadening to the pace of the plot, and was actually saying to myself, "Just blow them up already!!"
Otherwise, fantastic film.