My chaps seem to have changed terminology recently. Until a few months ago everything but BJJ, Aikido and Judo were referred to as traditional. A month or two ago, we adopted "modern ju jitsu" (the spelling being largely irrelevant to us).
I'd probably split such things into three categories of modern, traditional and sport. Where sport is anything competitive (judo, boxing, BJJ and so on). Traditional is anything done for it's own sake (akido, some koryu schools (from the descriptions on here)). Modern is anything aiming at a real world application (krav maga as the latest development).
"We do PRECISION GUESSWORK based on vague assumptions and unreliable data of dubious accuracy provided by persons of questionable intellectual capacity."