This question was asked seriously, if a bit rudely. The word is patently not obscene or indecent, so if it truly is banned from Free Talk Live then it's either by Ian's personal preference or by Ian's fear that others will judge it profane. I have seen no evidence for the latter suggestion, which leaves only subjective discomfort. But (as others have pointed out repeatedly) many other taboo subjects are discussed freely, and the mere utterance of a word is not racism in itself—it's a sequence of syllables. We put up with juvenile nonsense like "f-word" because the alternative would endanger carrying stations. Don't make it worse than you must.
Finally, an observation: just like a politician who is for small government except on one issue will spend the vast majority of his or her time on that issue, this VIRTUALLY UNMODERATED forum is becoming more and more moderated. All over something that was itself a reaction to.... moderation! WTFK posted about the seen and the unseen; compare this thread to my post history and tell me how the BBS is better for heavy-handed oversensitivity.