This idea was given to me by Jonathan Sheehan, I did not come up with it. I think its brilliant so I wanted to share. This does require two things to make it work, two translators, two IFB's, and I would say 3-4 channels of audio. Can be done with two, if you single mic subject.
So here is goes, think of a typical interview, you have subject (two audio sources, one shotgun and one mic), and you have interviewer (who a lot of the time is the translator). In this setup you have another translator with an IFB (listening to the subjects audio) and a wireless mic in another room or outside (far enough away you aren't picking them up). And then you have the camera operator, director or producer (whoever needs a translation) listening in on another IFB to the translator that is not in the room. The camera or cameras, are recording a shotgun and backup source of the subject, as well as the translation happening in another room, all in separate channels. What you are getting in post is pure awesomeness. You have both the original language and translation very closed to sync'd up (depending on translator skill), and during shooting because you are getting live translation you aren't slowing things down and able to quickly ask follow up questions. The setup is a bit tricky and I know in some situations it wont work, but when it does its great! I used this and was able to get transcripts by the next morning on interviews. Smoothed post out greatly. Hope this helps people!