I've never had anyone attempt to pick up my tank by the transmitter. I rig my 1st stage so that the LP hoses are above the transmitter, providing a bit of protection. It would be very awkward to grab my tank by the transmitter given my hose routing.
Also, boat crews these days are extremely familiar with transmitters. Where I dive (South Florida), easily a quarter to a half if not more divers on a given charter are using one. Boat crew easily know the difference between the transmitter and the tank valve.
YMMV. You have to do what you feel most comfortable with. For me, having no HP hose is of higher importance than minimizing the risk of someone grabbing my transmitter.