I resided for three years at an all-male college at university [I suppose what you Americans would call a "fraternity"]. We were all close friends because, apart from the intense intitiation process which was consequent upon admission to college, such places are in effect and often by deliberate inculturation highly communal, encouraging the idea that one's whole identity is bound up with and sometimes inseparable from the collective identity of the college itself. There were sometimes (perhaps once a month or so) what were known as "stick" nights - nights where we would all watch the latest porno that a fellow collegian had acquired. Someone (generally a first-year) was designated the task of announcing, at the top of his voice, that "stick" was about to be shown and that would be enough to draw never fewer than 20-30 guys up to the TV room to watch the promised entertainment. It seemed the mere announcment was enough to trigger some primitive urge within us all. Guys did get hard and most did not take any measures to hide the fact (timidity was definitely not an esteemed trait). Some guys were bold (or at least reckless) enough to show their cocks and swing them around. Laughs usually ensued. Sometimes mockery. Never explicit desire. Guys with big dongs were applauded, of course, and always in a light hearted way. Generally applause was followed by some bright spark inventing a new nick-name for the well-endowed exhibitionist. Often such names were designed as much to mock the guy as to signify the fact of his remarkable endowment. Never did anyone ejaculate in the presence of the other guys. Never did I witness sneaky hands grab the bulges or shafts of any of the guys in the room.
My view is that guys like sex, period. We are aroused by the idea of it. It excites our imagination. If we happen to watch porn together, this does not in anyway necessarily imply homosexual tendencies. It does not imply that, because we like sex, we want to have sex with each other. It demonstrates that we have abondoned that self-protectiveness, that timidity, which would in most circumstances inhibit us from recognising our common interest in and fascination with sex. I don't think that watching porn together is something that guys do for an extended period (ie, into their mid-twenties and beyond). It is a practice really confined to that adolescent and post-adolescent period when men are coming to grips with and eager to explore the nature of and limits to their sexuality.
In conclusion, for the most part (and for the majority of participants) the practice can be classified as homosocial and not homosexual.
