First off, as far as that rumor goes, I had heard talk of Taye Diggs for another show altogether. But I wouldn't make an issue of the Emcee's ethnicity, even with the very literal ending of the current revival. The Emcee is a bit of a limbo figure anyway...a device that pops up to comment ironically on the action. Moreover, a great actor can make you forget about issues of skin color. Case in point: I once saw a production of Fiddler on the Roof with a black Tevye. In about two seconds of stage time, I believed him as a Russian Jew.
"Gif me the cobra jool!"