While I can agree with your thought process, the majority of people would still be hurt if they heard someone utter a derogatory word towards them. In essence, words don't have meaning per say, it's all what you attribute to them, and that's what gives them deeper/lighter feelings towards the person you're addressing it to.
Nonetheless, I believe that the level of someone's maturity has nothing to do on whether you may feel offended by a word or not. Even if it is compiled letters put together to compose words or sentences, you don't know the level of sensitivity of the other party. You can use this process with people who can comprehend what you're trying to convey but for the rest of the people who have very glass-like emotions, it isn't of much use.
I've known plenty of intelligible people in my life that could crumble with one very nasty word said to them. It all depends on how you can handle things, I suppose. Not every intelligent person has nerves of steel when it comes to to discussions that have nothing to do with proper debates.