One cannot claim that people shouldn't have sex outside of marriage and then have sex outside of marriage, and not have it be hypocrisy.
The problem with your definition is that by this definition we are ALL hypocrites. You believe lying is wrong, correct? Yet, you sometimes lie to save yourself embarrasment, for example (we all do). Are you thus a hypocrite about lying? Should you then, for instance, not tell your children not to lie?
Technically, perhaps, you are a hypocrite, but not necessarily so in reality: you really DO really think lying is wrong, you DO often tell the truth even when it's against your personal intrests, but you just couldn't summon the courage or strength to not lie that particular time.
On the other hand, someone who's a serial liar and constantly tells whatever BS story he thinks will help him is a hypocrite if he pontificates against lying, since clearly his behavior shows he doesn't really think lying is wrong.
Big difference. There is something quite "teenagery" about the whole outrage: "Dad told me not to sleep around but he had a girlfiend he had sex with when he was my age!". I'm not buying it.