Whether you feel like this is acceptable or not does not matter: If you want to send a message and it ends up in the other side receiving the message AND being uncomfortable, you're pretty bad at sending messages.
I'm sorry, but your world view is very outdated. It's cringe worthy.
It's like hearing my parents talk about 'the blackies' or as my Mum once said about a parade, 'it's nice that they get out sometimes'.
It's the underlying attitude that they're different somehow, that you don't really believe in equality, you're just doing it for show. Using gay as a jokey insult says that deep down you believe there's something wrong with being gay.
Venturing rather off-topic, but: young folks today learn the epithet "gay" as in "loser" separate from the homosexuality aspect. It's nearly a homonym now. Still, the potential for confusion is great enough that one should stop using the word "gay" to mean "loser".
Sigh, everyone here is totally miss-understanding the term. Can used as: dude that shit is totally Gay. Can be interpreted as "totally cool, awesome, far out" has NOTHING to do with being a homophobe. NOTHING.
Source: Live in NYC, and with a linguist.
And "Fucking Coders", etc, implies awesome coders. I'm confused how posts here don't understand the slang being tossed around.