A term used by anyone in general as a farwell. Same as good bye or cya. It expresses that you don't want the other person to get introuble with the law or anyone else. It has no homosexual connotation what-so-ever.
A farewell greeting often used in the Queer community. While it can be taken in many ways, it serves as a reminder that being Queer is inherently dangerous, with risks of Queer-bashing, STD's, drug use, etc.