I suppose if James actually put pen to paper and wrote any part of the KJV it might matter, but he didn't.
What James did was this:
1.) Commissioned a standard version.
2.) Prohibited marginal notes that were throughout the Geneva Bible. This is important because those notes were added by reformers.
3.) Removed the death penalty as punishment for translating the Bible (which he had to do or the KJV wouldn't have been possible).
4.) Approved the final version and the publication of the KJV because, after all, he was king and the authorization of all publications, of any kind, was within his right.
Was James homosexual? Scholars, including Hirst (England in Conflict 1603-1660) in a comment that is little more than a blurb, appear to believe so.
However, in my humble opinion, unless James actually wrote/altered/skewed references to homosexuality in the KJV (and he did not; his motives were strictly political, not sexual) it does not matter.
I believe what RR is alluding to is the irony, and possibly hypocracy, of James alleged sexual orientation and the position the Bible which bears his name takes, but I will leave that up to RR to discuss.