Only if you stress the last syllable. Gays and lesbians usially use French-kind names. For example, from Nina and Natasha it could be: NinO, Ninel', Natali... TimO could be the same kind of playing with names, like VanO (from Vanya).

There are also Vovan, Tolyan — special kind of names Vova and Tolya, used by New Russians and other criminals.