Typical patch bays, in let's say in a major league baseball stadium, such as the audio system for the new New York Yankees stadium, which I built (I don't say this to brag, but merely as a point of reference), is full of patch bays, mono through TRS long frame 1/4" jacks, which they swap around like crazy, either to switch which microphone is being used (nation anthem and other announcement type needs), switching EQ/Compressor/Mic Pre and other dsp effects, swapping sources such as cd/fm broadcast/mic pre outs, to rerouting speaker outputs incase of amps blowing up, there are even NL4 jack plates which can be used to reroute speaker level signals for when amps blow out.
It's 100% ok, and happens all the time. Most of the time the connections aren't even making ground first. Best practice would be to turn the volume down on the channel your about to swap, but even that doesn't happen every time, and their system is still alive and kicking.
The Neutrik RCA's are absolutely designed to be plugged and unplugged with the gear up and running, it's a part of their design where the ground connects first to avoid such problems, which I've never seen be an issue with standard RCA's that make connection with signal before ground.
Times where you don't want to go goofing around with connections are on old tube guitar amps (Old Ampeg V4's as an example), you'll blow the amp up if you disconnect the speaker from the amp while it's running. Thankfully this problem has been addressed in newer amps, because of such problems, if a drunk drummer stumbles behind your stack and knocks your speaker cable loose, it's a really hard to get him to cough up the money to fix your head...
If gear can't handle a hot swap of cables, then it's got bigger issues, this is not something that should make you cautious of with your cables, but something that a manufacture should be highly scorned for doing.