I know lots of teens and almost teens (tweens...lol what a lame [ghey lol] designation) and they use it as meaning dumb, lame, stupid etc.
But then choosing the homosexual lifestyle is dumb, lame, stupid etc.
So maybe it means all of the above, homo and urban dictionary.
There was a court case I followed in a town near me, where a girl student used the term “gay”, in the use of the definition ghey.
She made it clear she didn't use it to mean homosexual.
Look outside the university and you may see what I have observed.
Even if they do mean “that’s so homosexual” are you sure they mean it in a sexual way?
Oh and I agree...this whole thingie is so silly.
In fact, it's GHEY!
LOL
Oh, and the court case?
PC rules ruled, she was castigated for using the term "gay."
I’m so gay started out with “you are acting gay” when some guy was acting something that could be construed as gay in some way. It was to imply you were gay. It’s over the years come to the youngers to mean your doing something stupid, wrong, really anything. This coming from a college student with a tween brother (well I guess teenager now... He’s getting so old :( ) . However, I would assume it would be used in it’s original form if his friends were doing something perceived as really gay.
Then again it’s just my opinion.