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If you think about how to manage the collaborative translating mechanism in the very early stages, I think it will be easier later.
Agreed. My next update will add theming support to both front and admin sides. This will make it easier because translations can just be made into a new 'theme' but I am sure there will be ways to make this even easier.
This is an option, but what I was more thinking about is translating the post during writing and allow readers to add their own translations for each post... but this will be anyhow interesting for a later version like 0.5 or something.