This page is dedicated to having a day. It's a rather simple concept. It doesn't wish upon someone the hope of goodness or well being, nor does it curse someone with thoughts of hatred or evil.
Basicly, it is a pretty worthless saying. But in these days of Political Correctness, worthless sayings are as safe as one can get.
The word insipid, refers to being without preference or opinion. (Notice the lack of smile or frown on the face.)
I am not quite sure of the exact lineage of the face itself, but if memory serves, it was brought up by a BMX Freestyle Company by the name of DYNO(tm probably) around 1987. They manufactured spiffy black T-Shirts with the yellow face on the back with the word insipid underneath. I'll have to see if I can dig up a copy of BMX Action circa 1987.