I think it is going to be interesting to hear more details, though the "real" story may never be completely clear. From what I've heard, it sounds like the Romanian word is not itself an offense term, but sounds a lot like a word that is offensive in other languages. To me it sounds like a combination of a poor choice by the 4O coupled with crossed language/cultural sensitivity issues.
But it sounds like a heat of the moment faux pas, not a racist comment. The 4O has called the R over to toss an assistant coach--we all know that is a challenging moment. The R comes over to ask which coach. In a perfect world, the answer would be the name of the coach. Or it would be helpful to be able to say "the one in the red hat"--but coaches in those games tend to be dressed exactly the same. So it sounds like 4O was trying to do nothing more than communicate to the R which coach was supposed to be shown the red card. In some ways that is no more than saying "the tall one"--a way to identify which of the assistant coaches. But (understandably in a world and a game that has had very ugly race issues) the comment became supercharged. Because of that supercharged reality, no matter how neutrally we intend it, referees should not use race as a tool that way as it always has the potential to be explosive.