It's truly ironic that you've constructed a definition of racism that only applies only to discrimination of one race and not discrimination of another...you have, in effect, concocted a racist definition of racism. I applaud you.
Your definition is not only internally contradictory, it also is not correct, at least if the dictionary is an authoritative source. You are right about one thing though...discrimination against whites isn't reverse racism. It's racist, plain and simple. If you preach racial justice, you should practice it too, or you risk committing the same crimes that you are fighting against.
And using the word "colored" is not a slur, at least not to the same degree as "######" or "jigaboo" or whatever. I can understand that some blacks may be sensitive about that particular word, but the Association dedicated solely to making you the dominant race uses the word freely, so I think you should probably lighten up a little bit.