They are no longer "The Wachowski Brothers," but rather simply "The Wachowskis." It's more concise than "The Brother and Sister Wachowski" or "The Wachowski Brother and Transgender Sibling."
Yes, rumor has it the Wachowski-formerly-known-as-Larry has completed his sex change and is now going by the name Lana. After over a year of hormone therapy, his (her) transformation is believed to be finished. Although this was hard on the brothers' relationship, their work on Speed Racer is still going full speed and Andy (the other brother, well, actually the only brother) is expected to do most of the press for the film alone.