Only deals with products and reactants, not transition states. You are correct, the number of possible transition states can be high, and their individual entropy is basically uncalculatable. I've never seen much literature about any machines or experiments that allowed the scientists to actually capture or directly observe a transition state complex and take measurements on it. We can predict and guess at what they are, to help us understand how a reaction proceeds, but they are usually so unstable they turn into the product within micro/nano/femto? seconds.
I read that or depending on the transition state.
This is the part I couldn't compehend.
"depending on the transition state" is saying, does the transition state decay into a more stable product molecule(exothermic most likely, entropy decreases), or a less stable product (endothermic most likely, entropy increases)
So :delta:S implies a change (products minus reactants) not just one species (transition state).
You have to be able to compare entropies of two systems, otherwise you have no frame of reference. It's like saying, this soup is hot. Ok...compared to what? The surface of the Sun or this icecube
We can measure energies of rotations in stable molecules, but we can't measure them in a transition state complex because simply measuring them might push them to decay to the product/back to the reactant.
I think you are correct in saying that transition state complexes are more strained than the reactants though.