In addition to having your internet text sex romps made public, this term can also apply to the gaysecks with younger boys. Some call it just plain gay, others, shonen ai. However, this differs from the Japanese version by the fact that there are a) no tentacles or cat ears involved and b)hopefully these boys are legal. It also differs from mainstream homosexuality by the fact that the two males are usually in a sort of master-teacher position, and often not open about their lifestyle. This sort of action is closely related to Greek love.
Remember that sophmore in the dorm across from ours? Yeah, professor Mc Phearson totally Foleyed him.