Womxn is a bit more than that.
Womyn = 70s term for 'women' that doesn't include 'men'. Essentially XX. See 'womyn born womyn' etc. There is a 'womyn's centre' that recently changed it name, because 'womyn' is now deemed to be transphobic.
Latinx - 2000s term to combine gendered Spanish noun Latina & Latino to multi-purpose Latinx
So 'womxn' has two messages:
- fuck TERFs - because it's a dig at the explicitly terfy 'womyn' by changing the letter x to y.
- by including the letter 'x' we're like super-mega-ultra-intersectional, because the word 'women' isn't inclusive enough of non-white people. Something like that anyway.
Essentially they are saying 'look, aren't we ever so woke, we are EXPLICITLY including women womxn of colour and transwomen' with the use of this magic letter x.
I'm sure there are other reasons they will tell you X is used, e.g., reference Malcolm X where X I believe was a repudiation of 'slave names'.