Self-determination is a good thing. Everyone wants it. Vietnam fought off the Chinese, the French, and the Americans for the privilege of being oppressed by their own communist leaders.
Self-determination is another expression of the principle of decentralization of power. "It is a firm principle that the smallest or lowest level that can possibly undertake the task is the one that should do so." (Ezra Taft Benson, The Proper Role of Government)
Russia claims that Crimea deserves the right to choose for itself how or by who is wants to be governed. There are questions over whether their referendum was properly executed, and many people are asking those questions.
A less popular question is whether the Russians really believe in self-determination. Shouldn't Chechya have a right to self-determination, for example? The Chechyans have fought two wars trying to gain independence from Russia, which refuses to let them go.
It's unlikely that the US will be able to puts the breaks on Crimea's annexation, having previously set a precedent for this sort of thing.
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