What are your thoughts on this ethical dilemma regarding discrepancies between belief and behavior?

I know many people (I am one of them) who have liberal views regarding what lifestyles are morally permissive: they believe that, so long as nobody is getting hurt, people should be allowed to live however they please. However, despite their liberal views, they choose to live their own lives very conservatively: they don’t sleep around, they don’t get drunk, they don’t engage in any “deviant” behavior, although they believe there is nothing morally wrong about these activities.

Do you believe there is an ethical dilemma here at all? It is said that actions speak louder than words; by refusing to engage in these activities, are these people saying through their actions that they do in fact think there is something wrong about doing these things? Or do you think a person can truly believe that other lifestyles are equally as valid as their own? If so, why do they then reject living that lifestyle themselves?