I remember reading some Blacks have separate graduation (or perhaps it was after graduation celebrations, it's been a while) and such, I don't see what's wrong with it no matter who is doing it or what color they are.
You want to go have your own party? Go right ahead. Wanna wear a sheet? That's fine. Want to exclude Christians and Conservatives? That's okay too. Don't want football players there? Have at it.
I could frankly care less.
Me too basically. We usually concern ourselves with constitutional rights, some common law precedence and G-d given rights as parameters...not involuntary social engineering...no matter how well intended.