I don't have a problem with the bailey penalty. I would call many more on both sides in every game. The waving of fingers and celebrations are too much. It's probably the only conservative bone left in my body after living in SF for so long.
IMO: I don't care if you are celebrating with your team or not, drawing attention to yourself should be penallized in a team sport.
However, judging by the current atmosphere it would not be. There is to much ambiguity in both the NFL and college now. E g the current Pepsi NFL commercials celebrating which dace to do after a touchdown. It is too subjective as to what is excessive vs. what is just good fun. If the rule is you can allow celebrations with your team, the only thing they should call is taunting. That wasn't taunting.