Things like this astound me. I honestly can't think of anything gayer than feeling the need to proactively deny ones homosexuality. If a guy compliments my shirt I don't think he is thinking about my penis. If that same guy then goes on to explicitly say that he wasn't thinking about my penis, well, now I know that he was thinking about my penis. Saying 'no homo' is akin to complimenting a girl's necklace and following it up with a ramble about how you weren't looking at her breasts. Not that they aren't nice breasts to look at, they are, but really the necklace is just pretty, not that she isn't pretty, cause she is . . . You get my point.
The natural next step of the 'no homo' phenomenon is the need to put a disclaimer on the use of 'no homo' itself. So I'm going to be the first to coin the phrase 'no homo squared.' It both declares that the speaker is not a homo for whatever he just said or did, and that he is not a homo for saying 'no homo.' Of course this will lead to natural 'no homo' inflation, but we'll worry about that as a culture when we get there.
Thanks for reading as always, I love you, no homo squared.