Generally, flashing that sign below the waist is a juvenile game where if one's friend sees the sign, one is entitled to punch them in the genitals (or something to that effect). That would be my first assumption before any kind of racism.

I suppose that’s pretty reasonable, but from what I have seen causing trouble from people, I really don’t believe that your view is shared by the majority of people causing the outlast against these symbols. I think either already, or in the near future, when someone makes an innocuous OK symbol, it will simply be interpreted as a symbol they are an even worse and more blatant racist, how dare they.