So does PETA have too many letters as well? And LAPD?
I'd say 5 letters is pushing it when people say "LGBTQ Community" (I guess "Q" stands for "Questioning" since "Queer" would be redundant). They could call us all just queers but some people are really insulted by that term (I personally think it's pretty damn accurate to be honest; we're not a normal or typical bunch).
They aren't going to exclude Trans. The smarter thing would be to somehow make an inclusive term that covers lesbians, gays, and bisexuals, as all three sorts deal with sexuality, where trans deal with gender identity, two very separate issues.