it means finding it difficult to be assertive in informal situations involving potential romantic or sexual partners. For example, a heterosexual love-shy male will have trouble initiating conversations with women because of strong feelings of anxiety.
Any man who dares to think that in the 21st century, they shouldn't always have to make the first move in courtship. Love-shys are ridiculed by other men and ignored by women. Love-shys also have the audacity to be introverted and/or intelligent and don't feel the need to constantly get drunk and party.