To answer
aevans176's questions:
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1. Is this surprising? Is so, why/why not?
What? The racism itself or the fact that administrators didn't do anything? The racism is not surprising. I have heard of racism against white people more often than I have heard against black people lately.
In terms of my 15 year old, day-to-school-day experience as a white student. I certainly don't see anyone being racist against blacks in my school, except for maybe one kid {who was subsequently beat up by the girl he was racist to, and when the cops came, she supposedly tried to punch one, getting her expelled for the year, and I don't know what happened to the kid who said the comment [sorry for gossiping]}. In fact, I am from a rather rich place, stereotypically a culture that fears black people, whereas I have one or two black friends. Regarding the administrators lack of action: depending on whether the administrators were white or black the situation would be differently disputed, but equally sickening. If they were white: I can understand the lack of action if I were them because they would be afraid if, say they punished the harassers for racism, the parents may retaliate somehow. If the administrators were black: they could regard complaints as imagined or even if the complaints were regarded, they could feel some closure because, potentially, when they were younger, white kids harassed them. Horrible, horrible thinking by the administrators

.
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2. How would've the incident been handled had the races been reversed?
I can confidently say that the white kids harassing would have been suspended for a week, sued, and then transferred if what they did was bad enough (i.e. hate crimes). However, a black committing a hate crime on a white person would not be regarded as a hate crime, likely just regarded as a normal crime. This is because of the history of African-Americans (i.e. slavery, segregation). A white person committing the crimes would resemble to all onlookers as a child trying to perpetuate the horrible ideas of the KKK. Whereas a black person committing the crimes, what is he perpetuating?
He's getting even for what white people did to his culture. What a horrible excuse. Racism is not like a big seesaw. The white people start on one side (oppressing African Americans). When that is taboo, they run to the other side and let themselves be oppressed by African Americans because they feel bad? Is the anti-white racism going to continue for another 100 years until whites get to oppress black people again?
Neither side is good, and not many people realize it! People just say "Racism against blacks is awful! But we can compensate by letting them be racist to us..."
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3. Is racism directed at white people as damaging as the reverse?
Yes. It is the same thing.
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4. Had this been a black woman with black children, would she have garnered more attention nationally?
Yes. It would have Jesse Jackson and Al Sharpton condemning the administration for not having armed guards standing in the hallways to protect people from this or something like that. It probably would have been brought to the Supreme Court or something like that, considering the constitutionality of whether racial insults are acceptable in public schools.
I'll stop raving, but racism, either way, is just lame and purposeless.