A contrived word coined by the politically correct and gays. Like most political correctness, including the fallacy of "diversity," it is intended to pigeonhole people into thought and behavior that fits the ridiculous PC agenda. In this instance, the word is used to turn the tables on straight people, attempting to make them feel guilty and inadequate for being repulsed by the fundamentally unnatural concept of men attempting to mate with each other.
Steve was pretty grossed out by the very idea of two men balling each other, and he found he didn't much care to consort with flagrantly gay people -- they just weren't his cup of tea. There must be something wrong with Steve! He has homophobia!