Yeah, I first heard of it as being more inclusive, but around that same time, I saw other people denouncing it as hurtful. It was kind of confusing, I have to admit lol.
As far as it being on tumblr goes, I wouldn't say that tumblr started this craze of "OMG the asterisk is so hurtful don't use it!!" especially since Nerd linked to an article (which I had read previously) where others have expressed discontent with the asterisk. Not that I'm trying to single you out or make fun of you, Jimmy, so if it comes across that way, I apologize.
But yeah, since I've read so many accounts of trans folk/ know trans people who don't like the asterisk, I'm just going to stick with not using it. But if you want to use it, I'd say Nerd's protocol is the most respectful way to do so.