Well I dont see howh gay cannot be derogatory , soon people will make it a compliment , lol.
For my full answer to the music , i like it , but like Julz said , there is something missing , I didnt really like the singing , the voice is nice , but over all it feels like an atmosphere track rather than a song , in my opinion , u should get rid of the voice , or fade it like a background , and have ur wife sing something , like , a story or something , but she should sing in a normal voice , maybe a sad story or something , have some feeling in the song. But over all it's good , give diff styles a shot , it's hard to nail it on the first try.

Edit: Btw , I know nothing about music , so dont take me too seriously , LOL.