The first person who helped me during transition, my trans mother so to speak, often used the word for herself in a self deprecating way. Before coming out as trans, I was already part of the LGBT community, so I wasn't a stranger to the word, or to the concept of camp. I'd heard plenty of gay men calling each other "girl", "->-bleeped-<-","homo"; and lesbians calling each other "dyke", etc. I don't actually use the word "->-bleeped-<-" much, however I don't have a problem with it, used within the community. If a 'phobe calls us trannies though, I'm among the first to speak up.
I'm personally in favor of reclaiming the word, like people have done with "queer", that said, I'd never use any word to describe someone who doesn't use it for themselves.
Z