Let’s be honest. The reason the mainstream press ignored the Colbert speech (full transcript here) at the press club dinner was that he directly called them out for five years of being cheerleaders for the Administration—or at least not doing their jobs. The only one who’s tried to was Helen Thomas and that’s why she happily took part.
I saw it on Sunday (before the fuss) and I thought it was hilarious, and it was totally in character with his show. Which is a straight parody of what liberals think Hannity/Limbaugh/O’Reilly and the rest of the wingnuts are like—although I don’t think they’re trying to be ironic. (Even though with Limbaugh bashing medical marijuana users while being a convicted drug felon it’s pretty much impossible to tell the difference).
The NYT has a self-important article about it here