I have no problem with text speak. Personally I don't use it anymore but, I am not going to throw a fit or be mad if I do get a text form someone that does write in text speak it doesn't irk me or anything like that.
I do however, have a problem with people using it in a message board or an email where there is no limit on how many characters you can use and you have all the time in the world to respond. With that being said, I feel that using shorthand in those situations is a sure sign of being lazy. That is why I loath when people write in shorthand and use abbreviations for show titles rather then just taking the time to spell them out.
"If you try to shag my husband while I am still alive, I will shove the art of motorcycle maintenance up your rancid little Cu**. That's a good dear"
Tom Stoppard's Rock N Roll