Chuffy said:...Not everyone will agree, but in the UK the word 'coloured' may be a little quaint, but it sure as hell isn't the 'N' bomb.
And of course the 'N' bomb does not appear to be considered offensive if used by black people. So we have a group of words that are offensive or not depending on who's uttering them and the context.
Luckily it's only a very small minority who could possibly get worked up about a geriatric British cycling commentator using a term in a non-derogatory way that is not currently politically correct in each and every broadcast area.