Moderating in live chat different from forums?

In live chat last night, a user came in spurting bigotry-laced comments that would be demeaning to homosexual people if any had happened to be there when he was on. After giving my side to the Bigotry topic started by jiminski and reading everything everyone had written, I have come to learn that bigotry offenses have harsher penalties. Three or four times last night, this user (who ironically posted often in the Bigotry thread) made many unruly comments and received multiple warnings. He was given his final warning and yet again, made another comment, but killmanic "didn't see it," although he was a large part of the conversation, debating me on another topic which is unimportant right now. Only after did I point it out did he "kick" him from live chat.
But throughout this whole situation, when this user was making these comments, I asked killmanic why he was given multiple warnings b/c I thought Bigotry offenses were a more serious situation, therefore given steeper penalties. My response? "Chat modding is different than forum modding."
I am relatively new here, so I still don't have a handle on how everything works around here. But is this true? That 36 page thread with many moderators commenting in it means nothing when it comes to live chat? It's okay to make these comments now as long as you're in live chat?
But throughout this whole situation, when this user was making these comments, I asked killmanic why he was given multiple warnings b/c I thought Bigotry offenses were a more serious situation, therefore given steeper penalties. My response? "Chat modding is different than forum modding."
I am relatively new here, so I still don't have a handle on how everything works around here. But is this true? That 36 page thread with many moderators commenting in it means nothing when it comes to live chat? It's okay to make these comments now as long as you're in live chat?