Well, Bond could be a Lesbian, or Bisexual, but never full gay, one of the defining traits of the character is that Bond is a womanizer, a 100% gay Bond wouldn't be Bond at all.
At that point the only way fully gay Bond could work is retconning the name as a mantle, ie, all 007 agents must assume the name "james bond" instead of pretending it's an actual person.
Which it's something i always wanted them to do, but im no true Bond fan, so im guessing hardcore fans would have a problem with the idea like everytime it is brought up.