I've seen a fair amount of coverage, between google news, my local paper, and npr. Certainly (sad to say) more than I would have had this been occuring in Africa, the Middle East, or Southeast Asia. That said, yeah, I think the story needs more coverage. It's certainly interesting. I don't know much about French politics but I know the racial tensions in various parts of Europe have been rising steadily for the past decade or so, and it seems this is just the first major 'eruption' so to speak. Any of our French members care to comment?
edit - now that I think about it, riots in some parts of the Middle East are given pretty extensive coverage, but I think that has more to do with the hope of democratizing the whole region.