When you have a look at the 'Translations' feature under 'BI Semantic Model (Multidimensional)', you will see that translations should be supported in all editions of Analysis Services 2012.
$0I gave it a try in the Standard and in the BI Edition and when adding a translation for an attribute which is used in an hierarchy, the following error message is displayed: 'Only dimension attributes and attribute relationships can have translations in this edition of Analysis Services.'
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Translations not completely supported for BI Semantic Model (Multidimensional) in Standard and BI ed
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