They are not honoring the Roman Catholic Church- but the Universal Church. Catholic means Universal. To be praising the Catholic Church, is praising the unity of all believers in the Triumphant Church to come.

What difference does it make whether she is alive or not?

I believe after she stepped down as one of the Ascended Masters she later died of medical or age issues.

1. Rejoicing for victory; triumphing; exultant. Successful beyond hope to lead ye forth Triumphant out of this infernal pit. Milton. 2. Celebrating victory; expressive of joy for success; as, a triumphant song or ode. 3. Graced with conquest; victorious. Athena, war's triumphant maid. Pope. So shall it be in the church triumphant. Perkins. 4. Of or pertaining to triumph; triumphal. [Obs.] Captives bound to a triumphant car. Shak. Church triumphant, the church in heaven, enjoying a state of triumph, her warfare with evil being over; -- distinguished from church militant. See under Militant.

Nathaniel Krum has written:

'The church triumphant' -- subject- s -: Church