That might be what they call the "Cheney demonstration" a few years from now (see Bloggernacle coverage here, with links to MSM coverage, and here, with photos). With signs like "Cheney, are you honest in your dealings with your fellow men?" and, from a supporter, "I support those supporting those who support Cheney," it's clear this is a fairly tame, even humorous, affair. I get the feeling this is just fun and games for the students, sort of like student elections. Given the national press coverage, I have to say I am thrilled they are protesting a conservative figure. If they were protesting a visit by Harry Reid or Barack Obama to campus, I know how the media, both local and national, would spin it.
I get the impression the folks who signed the anti-Cheney petition (which is really an anti-BYU petition, opposing the University's decision to invite Cheney to BYU for commencement) take things a little more seriously. There are now over 3000 names on the petition. Take a look at the first 50 names, which include Grant Palmer (an LDS author disfellowshipped for writing this book), Richard Packham (who established one of earliest ex-LDS websites), and four LDS bloggers (at 28, 37, 39, and 44). I hope COB observers don't draw the obvious but incorrect conclusion (they do that sometimes).
I won't sign any petitions, but I think it's great BYU is inviting Cheney and I'm sure dozens of other Bloggernacles types do as well. I think it's a good thing anytime a national figure comes to BYU to give a speech or presentation, of whatever party or persuasion. Hey, it's a university. The best commentary I've seen was David Magleby's editorial in the BYU paper. The LDS Church also issued a pointed statement in response to some overheated reporting by the SL Trib.
My personal view is that politicizing the Bloggernacle is not a good idea, just like politicizing the Church is not a good idea. The BYU Protest is probably a good thing if it helps the world in general and LDS members in particular understand that the LDS Church does sincerely endorse both political diversity and political expression, even at BYU (assuming the Church does sincerely endorse political diversity). But it is probably a bad thing if it encourages the Mormon Left to further amalgamate their political identity with their religious identity, a move in the opposite direction. It would be nice if we could keep religion and politics in separate corners. [That's a loose way of rejecting the proposition that LDS religious beliefs determine a particular set of political beliefs.]