On February 11, 2013, Yuumei had to take a break from drawing due to her swelling hands; it was speculated that this was due to Yaoi hand syndrome. Thankfully this illness was cured by watching Yuri. In the months surrounding the initial post, many fanart depictions were drawn and uploaded to the internet under the hastag '#boku no placebo'. On June 21, 2013, a Jack Block x Boku no Placebo crossover was written to critical acclaim.
So far we cannot say if Boku no Placebo is canon or not. A post in Yuumei's Tumblr show a cosplay of Vance kissing Frey and she says in strikethrough text: APPROVED. It is not known if she made this pic or not, nor we know if this is a joke.
Frey's sexual orientation is not yet written about, but we do know he used to crossdress, and at one time he obviously wasn't distracted when a girl was dressing in front of him. Vance, on the other hand, acts as a straight guy. He is not considering to seek out a boy, even though he is a desperate virgin at 18.
We don't know about the legal status of gays in CERia either, but yaoi depictions are censored on the local web, so it is likely that homosexuality itself is illegal as well.
In all depictions of Boku no Placebo to date Frey is always shown as the uke and Vance as the seme. The reason for this is most likely due to Frey looking like a girl to the point of passing as one when crossdressing. A Boku no Placebo theme for the popular microblogging site, Tumblr, has also been created, but it is now closed down.