This judge may think -- or assert -- that being called a homo isn't slander, but she's an idiot if she thinks the vast majority of Americans think the same.
Or, in plain English, if you call a faggot a faggot, and he it **is** a faggot, a tort action for slander by you against it cannot possibly succeed (unless, of course, the jury disregard both the law and the judge's instructions).