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It was bullshit. Nailz blew up at Vince over what he considered a lame payoff for SummerSlam '92 (where he had an atrocious 4 minute match against Virgil on the lower undercard) and assaulted him, apparently choking him until Vinnie Mac turned literally blue in the face. The agents and wrestlers had to pull him off McMahon.
I guess to try and protect himself, Nailz claimed that Vince had grabbed his testicles and tried to come onto him. Nobody with any insight into the WWF or Vince McMahon believed a word of it - I guess Vince is capable of a lot of things, but trying to seduce large ugly balding men is not among them.
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