As an Oriental, I am bemused. Apparently Asians are supposed to feel demeaned if someone refers to us as Orientals. But good luck finding a single Asian American who has ever had the word spat at them in anger. Most Asian Americans have had racist epithets hurled at them at one time or another: Chink, slant eye, gook, Nip, zipperhead. But Oriental isn't in the canon.
And why should it be? Literally, it means of the Orient or of the East, as opposed to of the Occident or of the West. Last I checked, geographic origin is not a slur.