Yes, initials are often recognized instantly when you have created a new action. But basically any fuzzy abbreviation —somehow related to the name— will do. You just might have to “insist” 1, 2 or at most 3 times, and then LB will have gotten it.
With “insist” I mean: typing the fuzzy abbreviation (e.g. in the above case “spso” instead of the “ssk” initials) > LB will not list the action at the top > you select it manually from the list.
I often change my abbreviations this way, especially when I add new actions with a similar name, or when my brain insists in memorizing something different from what I had planned
The flexibility of those abbreviations is one of the reasons I love to work with LB. Even if I forgot how exactly I named my action 3 months ago, and I type a vaguely resembling abbreviation, chances are good that the action will be found. Not at position 1, but it’s in the first 10 or 15 or so.
Trying this with a fixed modifier-hotkey-based system will make you cry and die in madness…
BTW, over at the LB forum I posted some tips about reasonable LB usage, in the context of memory/energy consumption and Index size.