Stopped reading at:
No.. the term is shortened from Cuckold which is a term for fathering someone else's offspring as noted in particular cases among birds (I think one such example is actually called cuckoo). Now it also happens to refer to guys who aren't the ones banging their girls...The term is derived from porn, wherein white husbands watch their wives or girlfriends have sex with (generally) black men
Why people are proud to be associated with that type of notion I won't really know.
eidt:
times like this I look at the word literally and am remind of how drastically something things change... but it's more fun to recall the words of George Carlin:
"Even the word cocksucker itself has been twisted out of all its original meaning. It's been distorted; for some reason, now "COCKSUCKER!" means "bad man". It's a good woman. How did they do that?"