High heel shoes force the feet, specifically the heel, up and forward accentuating the calf and forcing the woman's hips a little forward when she walks. This was intended to draw attention to her pelvic region. They also force a change in the woman's gait or step that makes her hips sway more. THAT part was stressed for performers and runway models back in the old school days.
I'm sure answers will vary. All guys are differnt. Some may find it appealing or have a fetish for it. Others might percieve them in a matter-of-fact tone or even negative manor. (ex. Matter-of-fact: the guy might point out how uncomfortbale it may be. negative: the guy mighy associate them with tramps and such. )