Well... Stardock is a US based company. Besides, I would rather them work on the game getting better, then translation. That can come later. 

I could maybe eventually make a french(quebec) translation if there is not too much text to translate. Or I could only translate the important stuff like the interface, commands, unit names.

What get's touchy are the events, quests, etc. Since each of these are unique and modders are going to add their own stuff, it is very hard to change the text of all these elements.

So if the XML files are very well constructed, yes there could be some translation. But don't expect to have an 100% translated game. And don't consider every mods to be translated.

This probably isn't the best example, but here's a tutorial on localizing (translating) a Firefox extension:

http://www.babelzilla.org/index.php?option=com_content&task=view&id=14&Itemid=

Something like that system would be great for Elemental.  It's surprising how different international communities spring up for software, like the Japanese Poser community, for example.  Making the game more explicitly open to users who speak other languages could only be a good thing, could turn into a great thing.