hang ups are things that stop you.
for example, "he was really hung up on that girl" meant he was in love and was
probably ignoring other important parts of his life.
or, "we're hung up here" meaning, whatever we are doing, we can't complete for some reason.
"he has sex hangups" maybe he can't do it.
but the original phrase "IT has sex hangups. " THAT is odd. it? a dog? a horse?