[who_would_fardels_bear]

Can we start using "gay" again to describe things that are phony or suspect?

If someone challenges us as being homophobic we can just say "Oh, we aren't referring to people with homosexual orientation, we are referring to that phony who ran Harvard."

[glennaro]

You could also reply, “Calling me homophobic is so gay!”

[Navy Patriot]

Can we start using "gay" again to describe things that are phony or suspect?

Yep, that is how colloquialisms come to be.

It will replace: "There's something Queer about that incident".

Permission to laugh granted!