I think he finds what he feels for her repulsive in himself, which says to me, that there's something there. Maybe not true love, but something.
Deep down does Angelus love buffy?
Maybe not love but obsession?
I think that Angelus was referring to the physical act, which he would equate with rape or humiliation, to the point of total breakdown of the victim, rather than anything even remotely romantic, something like he did when he turned Dru. To a twisted mind like his, that would be the purest form of love.I think it was just a sick joke at Buffy's expense. He definitely doesn't love her.