I highly highly doubt any kid would interpret it as being really cool. Actually, any person who "chooses" this path because of its "coolness" is choosing a torrid path in life.
Don't get me wrong, I will participate in gay jokes and will screw my face up with the best of them when I see a really camp bloke.
But if "special" rounds of footy helps make life easier for gay people, then I an all for it. I would hate to think someone would commit suicide over ulterior sexually.
I say this not really having any close friends that are gay except for a few acquaintances who are relatives of friends.