That would be the worst way possible. What if you have 100 pieces of text that need translating? ;)
Arrays and the Dictionary object would be your best bet. XML would help you but not sure how much you know and it can look quite complex at first. I haven't played too much with the Dictionary object but it sounds like the sort of thing you need. I may be wrong though. On that note, I think I'll toy with it some tonight.
You could have a seperate event sheet with the code dealing with the translations and include that for every layout. You'll still have to copy / create your objects / families per layout as you normally would.