Eh... I've seen this type of thing happen on a smaller scale in real life. "Politically incorrect" views have literally gotten people, students and speakers alike, run off my college campus before, and nearly got a professor fired but for a lawsuit he filed. Not a pleasant environment. A lot of people who under normal circumstances would perceive themselves as being liberal feel themselves to be at risk, lest that one reservation about affirmative action or abortion or pulling out of Iraq or whatever else leads them to also be ostracized. And I'm not kidding, people have had to transfer because of the shitstorm they faced for expressing themselves in an even somewhat politically incorrect manner.
So where did all the pent-up resentments and nasty "hate speech" go? To the Internet, of course. Facebook groups, posts on the college forum, stuff like that. Believe you me, it was probably a hell of a lot nastier there than it would have been in real life, due to anonymity and the time that such thoughts were held but not voiced.
Quashing free speech, however offensive it is, doesn't actually kill the thoughts behind it. It just causes them to be redirected to other, more underground, outlets. It's more trouble than it's worth, and causes more problems in the end, this whole censorship thing. Putting one (or a few) group(s) in a position where they are "untouchable" makes people even more angry and divided rather than less.
Coming from the position of someone who has been on the other side, actually having had offensive things said to me, I'd prefer people not say cruel things. However, forcing them, through laws and social pressure, to adhere to a certain viewpoint will not work.