I think it's stupid and LGBT groups going after him for it aren't helping their image, much like PETA; needlessly blowing things out of proportion. The word wasn't used in a homophobic manner, just a swear uttered out of frustration.
A $100,000 fine is just insane. His actions do warrant an apology though.
He was obviously frustrated when using the word. Hell, I called my desk a ****** when I hit my elbow on it.
Under these circumstances, the use of the word shouldn't warrant such attention.
If he intentionally used it (Not through frustration) to insult, then yeah, he'd be more deserving of the fine.
Just an FYI, I don't care about basketball or this guy. I also have great respect for, and support, LGBT groups ¬_¬