From what I gathered, the Augsburg Confessors where labeled with the "L" word by the RC Magisterium as a form of ridicule. It was meant as an insulting term, a designator for a certain brand of heretical movement in Christendom. They were also called "Protestants" too. In fact they were the first Protestants.
Now I read the retraction of this brother here.
What is interesting is that he says that the Augsburgers were the ones who coined the term "Reformed". I wonder if anyone has some information on this. Anyway this is what he says:
I thought being "Reformed" was believing in predestination, or TULIP. Well, that was a huge mistake. I wanted to be "Reformed" and so I changed the definition of "Reformed" to suit my taste. I wanted to be counted in the theological outlook of Westminster, with just a few tweaks here or there, so I fell into the same trap that "Reformed Baptists" fall into today - they claim the title and are not honest to admit that they cannot possibly be Reformed with holding to Reformed Theology. So instead, I redefined "Reformed" to simply mean - I believe in TULIP. Historically, this is a misnomer. It simply is historically impossible to demonstrate. Ask any Baptist where "Reformed" came from, and he'll point you to the Synod of Dorst. Little does he know it is a direct reference, written by a Lutheran, to explain the ecclesiology of Calvin's Institutes. In other words, being Reformed meant 1) Covenant Theology, 2) Paedobaptist, 3) following Calvin's view of the Lord's Supper, and 4) the ecclesiology of the Institutes. In other words, Baptists simply cannot be Reformed in any sense of the word.To be honest with you, I think the word "Reformed" is getting to be a precious word, it is becoming the "in" word amongst modern evangelicals specially in the Internet. See this article in Christianity Today, I know it is old but it is still a trend amongst the young ones who are noticing the shallowness of what evangelicalism has become.
The Calvinistic brand is important such that there is a fight to find out who is "Truly Reformed". I know it was a word I tagged myself in conversation back in those days when my helicopter was hovering over Westminster or Geneva. In fact I have heard it said as a self-identity with a bit of pompousness. I do not recommend it, IMHO, it is not the place to land, the terrain is rocky and there is flux (see for example Federal Vision, New Perspective on Paul etc). Anyway, I no longer have a dog on this fight, except to say that I doubt if that is that is the place one should park his tent. If you are wandering in the dessert of evangelicalism looking for water, I doubt if you should journey towards Westminster or Geneva, see here for such a journey.
So now I ask my self the question, should I wear my label proudly? I do not deny what my confession is, and in fact I told my pastor colleagues about my retractions, where I have been led. So should I be "proud" in the sense of "boast"? Although I am not ashamed of what I confess, I think not.
Let Christ be everything and us be nothing.
30And because of him[d] you are in Christ Jesus, who became to us(AT) wisdom from God,(AU) righteousness and(AV) sanctification and(AW) redemption, 31so that, as it is written,(AX) "Let the one who boasts, boast in the Lord." 1 Cor 1: 31
PS. See the former 5 pointer turned 5-Pinter 'calvinist' too.