I have a similar case. I am a 2nd year transfer student. I am going for Acadia University Bachelor of Applied Science (Engineering 3 years program), but I have got transfer credits for the first and half years. They did not change my LOA. Also, after finishing with Acadia, I am supposed to be automatically transferred to Dalhousie University to complete my Mechanical Engineering Degree, and this is not mentioned in the LOA but it is mentioned on Acadia University website. I feel like it is a complicated situation, and I am afraid it will cause further delays.
Edit: I just checked my letter again, it says:
Year of Study: First year of a 3 year program.
Duration of Program: 3 year(s) (may be reduced if transfer credits are awarded)
I guess I have to talk with the uni so that they clarify some stuff.