I would avoid that. I met a guy once named BJ. I have no idea if he was teased as a kid (but my guess would be yes) bc I didn't know him personally. I met him when we were both around 20 yrs old. And to be honest, even at that age my 1st thought was "Whoa - his name is BJ?!" And it privately made me chuckle.
Of course in your case, your daughter wont be going by her initials as her name. But, still - I think you should look for a different name you love in my honest opinion.