It is a bloody annoying mod. It might not be so bad if they disabled it when you go to edit your post. At least then you could choose whether to leave the automatic changes or remove them and have the post be the way you wanted it.
Also, a particularly annoying bug is that it will expand, yet again, things like |\|PP when you edit your post.
I think Wrongun's idea about having a glossary would have been the best option.
That way the people that didn't know what something meant could check, but those who did would not be subject to such punishment.