Just my $.02...
1. What has your training been like regarding issues of race/racism/power/privilege/oppression as they pertain to an individual's mental health?
I can only speak for undergrad, but they never touched racism/power/privilege/oppression. I'm glad we didn't because those are too complex for the classes I took and they should be a RESEARCH study program by itself. The only thing we talked about was in Individual Differences when we talked about how races and sexes differ in IQ, WAIS, MMPI, etc.... It was so hard for people to swallow that people are different and every demographic isn't the same as another with a completely equivalent bell curve. I thought my teacher did very well to try to drive that point home using BioPsychoSocial reasoning.
While I'm on the soapbox, at the same time, for my multicultural credit, I took a senior-level ethnic studies course based on interracial portrayals in the media. You know what it consisted of? Watch a movie, write a one page OPINION paper. We repeated that every week for 10 weeks. It was a joke. No analysis on numbers of interracial characters or relationships in movies over the years, no longitudinal study on beliefs throughout a lifetime, no case study on portrayal or evolution of interracial characterization in a movie... nothing even vaguely scientific... which is sad because this is research that would be interesting to know. This lack of any factual depth is echoed by friends I've made in that program. "Ethnic/gender studies is where you go for an easy degree" is something I've heard more than once. ...and it shows because they cannot argue their point beyond strawmanning, and appealing to emotions. If that's the level of study in a multicultural education, that is really sad. I don't want anyone with that poor of an ability to analyze to tell me if I have "privilege" or not.
2. It has been suggested that some of "these words" are buzzwords without substantive value. How do you understand the topic of multiculturalism and diversity as they relate to psychology? How do you understand the concept of "social justice"?
I think these are buzz words without substantive value. I understand that certain demographics come with a different culture, diathesis, and stressors. Knowing about them can help in both assessing and treatment. There isn't a one size fits all assessment standard or treatment method. I think we all know this. If we keep that in mind and be wise about it, and work within our knowledge and limitations, I think good things can be done in the profession.
But going back to "those words" as quoted in the question, I find that they are too often used improperly and emotionally only (as opposed to factually) by those overly concerned with "social justice" (again, quoted in the question). Privilege in one sex or race will be blown out of proportion and will be mentioned all the while ignoring the corresponding disadvantages, or the privilege or disadvantages of the entity it's compared to. It's a complex interweaving of issues based on a lot of factors. That's called a society. It might not always be fair, but it's how it is. We are all not under the same bell curve and wanting to run the world as if we are, is a terrible, terrible practice. This overblown, oversimplified "privilege" is used to prove "power"... Garbage in, garbage out is all I have to say there.
It's not racist or sexist to say that men and women are different. Or blacks and white are different. Or different cultures are different. It's true. You move into racism to say that a negro or a skirt can't do _______ because of that status. Again, that bell curve is not the same. That's soooo hard for people comprehend it seems.
Most people I've talked to who labelled themselves "social justice warriors" have a terrible allergy to using appropriate statistics and analyzing data critically. The 23% wage gap study is so flawed and long since discredited (By a report by the labor department, despite being brought up by politicians including the president), yet when I bring up why, I'm simply told I'm a sexist and the conversation is shut down. I bring up how stereotype threats are damaging and counterproductive in some cases, all the while showing the research, I'm told I'm a closet racist and the conversation is shut down. I'd love to talk about these things intelligently, and I'm totally open to being wrong. But, I want to be incorrect for the right reasons. They just did not know how to argue.
3. Does psychology have a role/duty to play in addressing endemic racism and inequities within our society? If so, how can we as a profession carry out that role/duty?
"Address endemic racism and inequalities"? I didn't study psychology to go into social engineering in a major way, so no.... Psychology has no "duty" to address these issues. The preconceptions and racism and sexism that does exist in the world didn't happen overnight, and it won't be cured by people purposely manipulating society for some level of "fairness". We can educate, we can live and teach by example... we can correct misconceptions with facts and again by example. Ultimately that's how it's done. You don't make lasting social change in societal kinks by using a hammer on it. You'll only get an equal backlash from it. It's a SLOWWWWWWWW process, but it does happen.
Maybe I'm naive, but I think as clinical psychologists, our first priority is to the patient, not to get into correcting injustices in society. I'm betting that can sometimes be in direct conflict with each other. Maybe social psychs or sociologists might get into the best ways to move forward towards a goal of "equality or fairness" (which are two extremely vague terms that can vary wildly depending on the metric), but I'd raise an eyebrow at anyone acting towards that goal unless they understand that you can't bludgeon or even argue fairness in a population. You'll only get a backlash that would cause you to power up... then they power up... and it turns into a battle of wills. And using "thought police" statistics to make policy or making public policy with the express purpose to change thoughts is a big, big mistake. No one should be in the business of policing someone's thoughts. "Fairness" and "equality" (depending on how they are measured) is a great goal. Your heart's in the right place... but that's just not how it works, not in any lasting way.
...phew!