I'm afraid as an L person I would deeply concerned about the source of this 'pledge' and it was a symbol of committment to a political position…I would be likely to ask for someone not wearing a lanyard.
I found this Times comment rather poignant - and it exactly mirrors something Arty Morty said a few weeks ago - he used to find a rainbow comforting and now it creates apprehension.
I am a lesbian, and where the rainbow used to mean that i would be safe and accepted, it now makes me take a deep breath and wait for the onslaught of bluehairs telling me why I am evil.
If I feel like this, imagine what heterosexual people must think of it.