A combination of the words transexual and lesbian. A male to female transexual who is attracted to females. The term is often also used by hetrosexual male transvestites or crossdressers.
Paul had a sex change to become Paula but stayed with her girlfriend, Paula is a translesbian.
Greg is a hetro guy who likes to dress up like a chick and bang his girlfriend pretending he is a translesbian.
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a m2f transvestite who likes to have sex only with other m2f transvestites, would not accept to be taken by a man unless in the arms of another m2f transvestite
I am a translesbian, I only have sex with other TVs
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