I agree with you completely EXCEPT about Traya's fleet. Nihliius' fleet would have been her's during this Kaggath. So she does have a army. Just not a big one.
My mistake then. I never really understood what was happening with Nihliius and Traya... oh well.
So she has a fleet. Revan's is much, MUCH bigger.
EDIT: And what army she does have is not nearly enough to wage a full out war.
Nihillius's fleet lasted a grand total of one battle. And they lost it. Against the Republic.
(Don't quote me, I'm going off what I remember from KOTORII, could very well be wrong, please correct me.)