Free Speech for Middle Schoolers or Lewd Speech?

Here's an interesting controversy brewing over the use of those popular wristbands that say "I (heart) boobies." Do schools have the right to ban these wristbands as lewd speech (which the Supreme Court has allowed schools to do) or is this a violation of students' rights to free expression?

Here's the article.

What do you think? I know some breast cancer survivors who see this entire campaign as frivolous and demeaning. They say it is bringing sex into a campaign meant to deal with a disease (see how I avoided the dreadful word sexualizing?) Yet, it's also brought increasing attention, which is, after all, its point.Or is this the wrong kind of attention?