You're thinking of masculinity and femininity in a social context, not a biological context. If, in this context, you are a "feminized" male, you don't think of yourself as female; rather you are attracted to the gender that women are usually attracted to: men. In a relationship, both of you are men, and both of you are attracted to men in the same way women are attracted to men.
I once had a real knock-down-drag-out shindy with a couple of other JUBbers (including blackbeltninja) about the use of terms like "masculine" and "feminine," or "normal" and "abnormal," in discussions of sexuality. And in the literature we were arguing over, there was no attempt to neutralize those words. In this article, however, it was clarified that what was being "feminized" in gay men and "masculinized" in lesbians was the expected gender of attraction, not an individual's gender identity.
A gay man feminized in attraction is attracted to what females are expected to be attracted to, in a purely advancement-of-the-species context (in this case, reproduction). From a standpoint of the continuation of a species, male is attracted to female and vice versa, because that's how babies are made. But we also know that there is a whole hell of a lot more involved in human sexuality than mere reproduction. Nevertheless, in a reproductive sense: if a female is expected to be attracted to a male, then being attracted to males is viewed as a feminine trait. See?
The language is loaded no matter how you go about it; but I think the author of that article made a valiant effort to not let his or her message be negated by the weight of the words.