Bullshit. I work with a few women developers/testers (5 our of the 40 software engineers on our floor) and they is no "boys only club" mentality. Sure their might be the occaisional off color joke that appeals to men more than women, but over all they are well respected and treated as equals. It's like when my fiancee and her friends are hanging out and they make a joke that appeals to women more than men. Do I get offended and call them sexist because they made joke from the female perspective that doesn't apppeal to me as much as them? No, because that would be abrasive and lame.
If anything I'd say the women I work with are given more slack and more respect than the male developers. I have never seen anyone jump on any of the female engineers here (or anywhere I've worked) for making a mistake. Yet I have seen that happen to male engineers quite a bit, where a colleague or manager forces them to admit to a technical transgression, which sucks because now that female engineer might not learn as much from her mistake. In my experience, male engineers avoid confrontation with women in the workplace, even when it would be constructive.
I agree with OP, most women just don't want to work on the technical side of software development, and the majority of women that I have seen come into software engineering as interns or associate devs have ended up in project maangement. Hell, most men don't want to be software engineers, but there is a minority of men and even smaller minority of women that just have the knack for it. Forcing women who aren't interested into the feild and will make poor engineers is not the answer. If anything that will cause the men to discount minority of talented women (and treat them even more differently than they do now) that deserve to be in the feild.