Seems clear to me. "Reverse racism" isn't a thing. It's simply racism to view a person as inferior or superior based on their race. Reverse racism would be, I guess, saying your own race is inferior?
EDIT: to be clear, people who believe that reverse racism isn't a thing are semantically correct, it's just racism. And whether it's against a minority or majority group - terms which, themselves, are prime to define a disparity between two groups - it's unjustifiable.
It is also not clear to me if the CoC applies to behavior outside the community, or re. nonmembers.
It's racism, but with a modifier to make it clear what's being talked about. I don't know why you're trying so hard to make it "not a thing".