It's kind of like if you and wuf started calling each other 'cracker' all the time. In the context of two (presumably) white people speaking to each other the word takes on a different meaning than if a black person on here called you 'cracker'. In the context of you and wuf the word 'cracker' would be much closer to 'brother' in meaning than to 'dickhead of another race', since obviously the latter meaning makes no sense when both the speaker and the listener are of the same race.