From what I've noticed, it can have two different meanings as they'll do it to other roosters too. Sort of a chicken version of a crude come-on line for the ladies that doubles as a macho insult for the guys.
Amazing how they get the ladies to bow down to them.... all my girls look like they got ahold of the clippers.... (completely bald heads) mine is very friendly to the hens in fact he sets aside a time every day to spend one on one time with each of them almost as if he is taking them out on a date. He just has trouble with small dogs, children, and any adult who is vertically challenged like myself. Perhaps ill buy some stilts and see what he thinks