I've never heard anyone using "biopolar" in a derogatory way. I don't even know what the stereotypes are; I guess it's wild mood swings?
My sister has bipolar II, but a lot of my complaints about her are common to the SP temperament (she's an ESFP). She just seems MAGNIFIED with bipolar, as if all of her personality flaws are more defining than they should be. She doesn't have wild mood swings...it was more like deep depression & then a recklessness w/irritability. Our family never felt like we were dealing with someone crazy, just emotionally extreme at times.
I don't really hold this against her, but I do see times when she skews something in her favor by using it as a crutch of sorts (being a bit manipulative seems to be one of those traits that is magnified). I think she still needs to take personal responsibility at times, especially as her meds have her pretty balanced now. She's even admitted that a lot of what she needs now is to learn better coping skills, because even people without bipolar have stress, anxiety, low moods, etc. Dealing with the side effects of her meds is an issue also. She has chronic insomnia, among other things, and this is what is currently preventing her from functioning fully (holding down a job). Her moods are pretty stabilized.