Nic rightly called me on the fact that I never defined my terms. Here's the dictionary.com results. Here's the one I like best:
Of or concerning homosexual love and desire.
Tending to arouse such desire.
The other entries tend to focus on one or the other. Slate guy was definitely focused on #2.
Also, I wanted to emphasize a point millenia made. Just because something has some homoerotic aspects doesn't mean that the eroticism is the only or even a particularly prominent subtext. Same with heteroeroticism. Practically every action movie ever made has some heteroerotic scenes, although I'm told that there's no real love interest in one of the Robocops. But don't worry, just because you notice that movies have heteroerotic content doesn't make you straight. :p