Yes, it is. This sort of thing was never around when I was an undergrad, and I've only heard about it in the last two years or so. Some people around here get defensive and act like you're less of a fan if you wear maroon. Last I checked, our colors are maroon AND gold. It's right in the March, for crying out loud.
For another thing, it doesn't make any sense to be so adamant about gold. Iowa, Michigan, and Purdue all have a variant of yellow/gold as one of their main colors. So when they come to town, it can be hard to distinguish between fans in the seats. How many other Big Ten teams (besides U of Chicago) have maroon as one of their base colors? The answer is zero. If some people want to be fascists and force people to wear one color or the other, maroon makes a hell of a lot more sense than gold.