Well unfortunately the character isn't actually transgender, the show is about a cisgender boy who steals his sister's magic ring and is given the responsibility of being a superhero(ine), the ring gives him special powers but also the super girly outfit (it doesn't actually change his sex), which is extremely humilating for him at first but he gets used to it.
So yeah, not at all what people are making it out to be, which is disappointing, but the show does seem to poke fun of gender roles a good deal, so it's a start.
It'll probably be a while before anyone has the courage to make a children's show with actual transgender characters.