Is It Racist? "Asian Girlz" - The Song

Day Above Ground, the "rock" band that released the song and video, felt the need to release this disclaimer when the video hit the YouTubez: Without watching that much of the video, because OMG, UGH, I'm still gonna say, "uh, yeah. Pretty friggin' racist." What do you think of the song "Asian Girlz"? Silly, fun, and self-deprecating? Or racist, and almost more so since the singers don't even THINK it's racist?>