They are attracted to women, but are technically a trans man, it's arguably meant to factor into the fixation in homosexuality and heterosexuality about sex, which would be female for my trans friend even though they identify as a man (which is gender, not sex). I'll admit I haven't looked into the term much, but from what I gather, it would seem to make sense when you consider that etymological implication
If anything the term gynephile would be more fitting, since it doesn't necessarily entail sex (though I suppose it probably does, there'd need to be a term in regards to attraction to women rather than females as the "sexual" part of that often binary term suggests.
Like me as a cis man and male being heterosexual means I'd be attracted, by that description, to females, not males, but if I dated a trans woman, by the idiocy of that term, I'd somehow be at least bisexual because they aren't female sex-wise.