I think it has more to do with how you carry yourself in general.
I'm assuming you're asking if women will think that you are gay, and to that I say, does it matter? For one, if they're making assumptions like that, they'll probably make the assumption without the body jewelry, just because you're a male dancer.
The only problem I can see for male and female dancers with navel piecings is veils getting stuck to them and ripping it out: youcha!!!! Happened to me with my nose ring... Lucky it didn't rip my nostril!
Now I'm trying to imagine what would make a female dancer look gay. Plaid flannel bedlah with combat boots?