http://www.cnn.com/2008/WORLD/africa/07/01/mandela.watch/Yes, the term "terrorist" is politically loaded.
Taking a step back, I think the term "terrorist" is used because it focuses on certain acts abstract from any sense of cause/effect. You punish the abhorrent act - you don't have to look further. In contrast if you speak of war, you can at least imagine examining the causes, the ways to avoid further bloodshed, etc. But if you just say "those f*#kers are terrists!!" it follows that all you have to say is "kill them!"
And now they're going to strike deeper into Pakistan, I hear, for "terrorists".
e.g. the object of "shock and awe" was by definition to terrorize the entire country of Iraq into a catatonic state. This was stated overtly in so many words by the Bush/Cheney regime, and not only were they proud of it, but the majority of the US were gung ho for it - or to be more blunt, were positively slathering, feeling no pain. Yet it wasn't called "terrorism", it was called a "preemptive strike" and came loaded with dubious justifications, and it never has been justified. Yet, nobody calls the US military a "terrorist army". Hell, it's hard to get somebody to so much as ask for some kind of official inquiry into whether all was on the up on up, during those times.
No joke about it, the term "terrorist" is loaded.