I completely disagree with any statements that T changes your sexual orientation. The system in your body that controls hormones has been studied several times and has never once been tied to sexual orientation in any way.
I think that in general being on hormones, beginning to feel more comfortable with yourself physically, allows for more growth and exploration sexually that many of us weren't open to before. When you are comfortable with your body you will be more comfortable with other people being intimate with your body. You are no longer staring at men's bodies with only envy and jealousy, you are no longer as concerned that a man will see you only as a female and treat you as one. You in general are more comfortable with your male identity and this allows you to be more open with your body and partners.
Also think about the stereotypes society pushes on us. If we wanted to be men we were expected to like women, so many of us did. Many of us felt genuinely attracted to them as well. But men are far more closed to the idea of liking other men, so why would any of us have gone out of our way to admit to or follow through on the idea of being attracted to or interested in sex with other men in any way? It would be like allowing ourselves to be used as and seen as women. That is exactly what society would have said about us.
If you like men why become a man? Why not just stay a girl? Why did that girl become a guy just to be a queer?
Ever heard any of those statements before?
We all, in our own ways, followed strict guidelines of what we felt made as "men" in the eyes of those around us. Rather it was working on cars, dating girls or refusing to wear pink. This is just another good example of allowing society to teach us to act a certain way to present as who we are.
Personally, I identify as bisexual. I don't have an interest in men beyond physically. I have met one man in my life who I genuinely felt any kind of emotional attraction to but could not have had an emotionally fulfilling relationship with him. I still would have desired more. My attraction to both genders physically is equal. However, I personally need a woman. The way a woman makes me feel about me emotionally is what I am drawn to. A woman makes me feel like more of a man, the way they treat me, hold me, look at me, need me... it makes me feel male. That emotional relationship and attachment reinforces who I am. Emotionally I feel like men see me as a female and so I can't connect that way with them. It makes me feel like I'm not really being seen and loved for who I am. And that is just part of how I personally react to emotional contact with each gender, not everyone will feel that way about it.
However I highly doubt it is even physically possible for any hormone to control our sexuality. Any man who was deficient in T and had to much E in their body would be gay. Any woman who had a higher levels of T would be a lesbian. It simply is not that way. If you look at society there are way more explanations that make sense in our social structure than there are in science and hormones.
Any woman who went through menopause would become a lesbian if this was true. There would be a huge study about women suddenly becoming lesbians after age 40.