After reading Stan Rogers replies here, I must say that I mostly agree with his position.
Regarding the facts:
-Banger used insults in a public forum. I am okay with the spineless worm insult, it sounds much piratey to me (so much for claiming you deserted piracy Banger ) and it is posted at the Union of honor, which is the right place. I am not okay with the words used inside the post though. These are considered a harassment, not flaming and such kind of harassment drop the communication level overall. They must be avoided (I edited that post).
-Luckily for Banger, Tom Lowe has not been disturbed enough to report a harassment to administration. That's a grown man's behavior and I applaud it. Still, there needs to be clear distinction between flaming and harassment not only for Banger but for everyone in order to avoid repetitions in the future.
Let's come to the key element in the story here, in my perspective:
In my understanding, Banger and Tom now have a personal issue. They probably had it before this topic but now it is public. This is what we want to stop with the griefing rule. We want to protect both Tom and Banger from turning their daily game into a hate contest. If one of the players decides that their IRL honor has been assaulted, what is to stop them from turning this into a daily struggle till one quits?
This is what is unacceptable. However, you cannot come to administration and call for grieving while you throw more wood in the fire. We cannot interfere in such.
Closing up, my memory is not short. I remember past cases for both players. I believe that you should put a limit to your fighting. Let's say 2 weeks more max. These should be more than enough to wash off any of the current or past insults. If you can roleplay it earlier, all the better. I will even find a way to reward you in-game for such. Let's not make it more of a story, I hope.