[ephennaCypota]

I would imagine that since ladyboys consider themselves women it would be approriate to refer to them as she/her.
I think there needs to bee a distinction here made between ladyboys and gay men who are effeminate. Men who are obviously men but gay I don't think would be regarded as ladyboys. There are plenty of "campy" gay men around that don't become ladyboys so let's not get them confused.