During the Festival, I also had a lot of questions about Transgressive literature. It's a subject far too big for just one blog post. However, in thinking about what we might call the "current crop" of big names in TL, here are some links to some good places to start, for those that are interested in starting to explore the genre (in no particular order):
Chuck Palahniuk's novel, Fight Club. ( Invisible Monsters and Survivor are also masterpieces, but if you only have time for one...)
Dennis Cooper's entire "George Miles Cylce" is important, but if you only have time for one of them, go with Try.
Irvine Welsh's novel, Trainspotting. (as with the others, anything of his is going to be amazing, but if you only have time for one...)
Bret Easton Ellis' novel, Less Than Zero. (if you get time, though, make sure you give Glamorama a chance)
As I said, there are lots of other amazing books out there in this genre, some by large presses, some by small presses, some indie published. At some point later, I might tackle an entry about the best I've seen from each of those categories, but this should at least get you started.