Are the chips and soda what's offensive?
When I was at Wheaton, a story (possibly apocryphal) circulated about a student who had been expelled a couple years earlier for celebrating a mock Eucharist on the quad, in which he faux-consecrated donuts and beer. If you wouldn't want to see such a thing, don't watch this video, an ad entered for a Super Bowl contest and then pulled amid uproar:
Offensive? I'd say so. But is the problem the fact that the elements served are foods other than bread and wine? That's certainly not unprecedented--and churches that get experimental in this area may provoke controversy, but hardly accusations of blasphemy. Is it the use of junk food in particular? Maybe, but the Wonder Bread and "grape juice beverage" I grew up with had at least as much in common nutritionally with Doritos and Pepsi as they did with actual bread and wine.
I think what makes the ad offensive isn't the Doritos-and-Pepsi communion itself; it's the suggestion that more people would go to church if churches focused on providing cheap pleasures people already want--and that this would be a good thing for the church. Looked at that way, the ad starts to come off (intentionally or otherwise) less like a thoughtless and easy punch line and more like satire that offends to make a point.