Oh, there is one quirk you should be aware of. If you apply the patch and load a saved game from before the patch, the character names won't be translated. Not sure why this happens, but everything else seems to be okay.
It is because of the way that RPGMaker handles actor names. When you load a save it checks the names of the actors in the save, so if they are different than you translation the translated names will be ignored. If the game is also using an actor name call when referring to any of the characters they will also show as the untranslated name.
I am also interested to hear if there has been any progress, especially with the game over scenes. I really want to play this game a lot, but not being able to read the dialogues to know exactly what is happening completely kills it for me D: