I've not seen the banners in Leeds, but the ones at other Prides have said 'lesbians don't have penises' and 'lesbians = female homosexuals'.
The trans lobby see these as bigoted
I suppose the question is, how "neutrally" are those meant to be interpreted.
In some sense they are just a factual statement about lesbians, and you could say that at Pride, they are just one opinion amongst others and should stand on that basis. By the same token someone else could have a sign saying TWAW and that could stand.
I can also see the POV that might say that no signs that could be interpreted as a political statement should be at Pride, in which case you'd have people but neither of those kinds of signs would really be ok since they are both controversial.
My reading has been that what has been happening in most instances is the TWAW type of sign has been present in the last number of years, perhaps with the assumption that everyone was ok with it, and the lesbian signs were a reaction to that, which precipitated an immoderate response by the trans supporters.
The mistake perhaps has been to kick one group out while supporting the other, or to allow one group to make a political statement and not the other. I can see how the no exclusion mantra got them to that way of thinking, but it doesn't really do justice to the issue.