I am also one of those that would have voiced my opinion to the staff, in my feedback and with a letter to Princess if I was offended by the show. If this is one they have been doing for a while, I guess I saw it last July when I last cruised and it didn't offend me then. I'll see if it does when I'm on the Coral in a week.
That being said, I do feel that you are being rash in stating you'd never cruise with Princess again because of this. That is your choice but it seems drastic. I think you should voice your opinion to Princess Headquarters and then, if your not satisified with their answer, make that decision.