We use multiple Grade Translations within our Standard Report Card including a scale translating "Satisfactory" to "S" and "Outstanding" to "O". Within the Standard Report card it is only able to display the full grade label instead of the abbreviation as entered.
This has been implemented with our new report card builder that was made available to all onRecord sites in the July release.
Please note that, currently, when using a Standard Grade Plan to show an abbreviation, within the 'Courses/Groups Grid' on your Design Layout, for the column where displaying the grade, you must select 'Display As: Letter Grade' to show the abbreviation, and not 'As Entered'.