[quote but until Naoko gets asked about it in an interview or something, neither side is going to be more correct than the other, and it's all interpretive][/quote]
This. This right here, and I keep forgetting to say anything about it.
I think it's worth mentioning that in "closeted" examples, there usually aren't ANY other characters that are homosexual or anything. I don't know anything about Korra, but I do know about Dumbledore, and HP never featured homisexuals anywhere, at least no more overtly than DD himself. Buuut... in Sailor Moon, we have definite confirmation that Ura-Nep are homosexual, and at least in the older anime they featured a few others, long before Ura-Nep made any appearance. It would seem strange not to be open about throwing in another pair that way.
I think it's also worth pointing out that Chibi Usa is clearly intended for Helios, as finding her own prince was a big deal to her, and Helios promised he would wait for her and see her again. I just don't see her breaking that so soon, and I can't see Hotaru being such an unfaithful friend as to get in the way of that.
Also, I have COMPLETELY forgotten to address the very first question regaurding the nude shot of them. That's actually a common form of art in Japan, and there's a name for it. It's a way of showing the closeness of girls/ women, and is not intended to have lesbian undertones (not that it excludes such tones). I wish I could remember what it's called though. >_<; Aarrghhh!