...it would take something a lot more severe than "not attending a parade because of reasons X, Y and Z" for anything punitive to occur...
How would the UVic administration respond if instead of protesting the Pride parade because of "colonialism, racism, corporate capitalism, nationalism, banks, police, and bias towards white, able-bodied, neurotypical, middle-class/upper-class, and cisgender homosexual men" a campus group chose not to take part because of "bias towards Jews, Muslims, women, aboriginals and handicapped people". In my mind you don't end discrimination in one form by substituting another.