A bit of searching and I found the word just means pedals in esperanto. For some reason the word pédale has another meaning of "faggot". I can't find any etymology for it, but probably it's a changed spelling of pédéraste which translates to boy-lover - and I've heard Russians scream it at me in online games.
In conclusion, not directly a French insult, but maybe?
Pro Pedalo racing was banned after what happened at the 1978 World Cup finals in Hockenheim.
Most of the survivors are still in a wheelchair today - and suffering from severe PTSD.