Here's what I think is happening between Milo and A- er, Jame.
The little story he told us suggests that he likes Jame because Jame actually seemed to be interested in knowing him, rather than just sticking around at that party or wherever else for the prestige, alcohol, or girls, like the rest of Milo's superficial acquaintances. Probably. We'll assume Milo is right about that, for now. So if Jame does like Milo, the question is, why?
Possible answer: the same reason Nels likes Milo. Think about it for a second.
And it's altogether possible that Milo even liked/likes him back, just for what he did, namely seeing Milo as a real person and paying attention to him. Who knows, Milo might be really attracted, and want more than anything to strip naked, make out, and f**k that tight... face, of his. *cough*