Thanks for providing the exact wording. You are right that it does not say women. However, given the context of the time and the enforcement it is clear that was the target.
I do not know about other uses of Title IX in litigation and enforcement. In sports, many of the enforcement decisions of the court have been driven by suits from students and other effected parties, i.e. they are not initiated by the Justice Department or other entity. Men are also eligible to file suit, I know Equity in Athletics filed a suit against JMU--but at least in that case they have not been noticeably successful to date. Other times Univerisites have cut sports citing the need to pre-emptively lower the risk of suits against the University.
Some funding is definitely targeted at academic and scholarship programs. Science departments, for example, sometimes offer special grants or incentives to try to increase the number of women in their programs. Interestingly, one of the local university administrators (who happens to be female) said that the education department had asked to use some diversity funding to recruit more males to teaching because they were under represented. They were basically laughed out of the room.