This jock-inspired, fraternity gesture is simply an offensive act.
I find hand gestures of this sort to be as offensive as 'Heil,...', the one- five finger salute, the V for 'Peace', or the middle-finger jab.
The hand gesture always has more than one meaning, some acceptable, and most, not. It is always unpunctuated. It is never vocabulary neutral.
For Obama, who must continuously, revise and extend his remarks concerning his original statement, reminds me of almost any conversation with a Black American. They never say what they mean, and they almost never mean what they say. " ya' know what I mean ...", "What I mean is ...", "What I meant was ..." "'Ya know ..."
But the offensive "fist-bump" needs no explanation. It is a statement of silly solidarity with another "clan" member. A secret handshake, so to speak. It is as offensive as flowered Peaceniks showing the V-sign at a Medal of Honor veteran's Arlington burial. It is inappropriate and stupid.
It offends my white heritage as much as a Union Jack on a pick-up truck offends an African-American.
I do not, personally, go out of my way to offend African-Americans. Why do Jeremiah Wright and Barack Obama think they can avoid criticism and routinely denigrate white America?