The game developers put a legal stop to fan translations for this game because they are going to be releasing their own legitimate translation to sell. Therefore, if the group responsible for the partial English version we currently have were to try and finish their translation, they would be faced with lawsuits and other legal repercussions.
So by all means, if you want to translate this yourself, feel free. But until the actual development studio responsible for this game finishes their own English version, there won't be another fan translation.
You use a lot of absolutes in your comments, but I don't think you understand quite how difficult a translator's work is. You aren't just talking about replacing in-game text, there is also the much more major issue of localization. These games are coded in a different country, meaning all of the filenames and all of the references to those files are written in Japanese. If you miss even a single file reference, you can cause either serious game-breaking bugs, or small and hard-to-replicate bugs to occur.
And then regarding the game text, you have to remember that context and phrasing is important. Translating the game text isn't as simple as searching for words and replacing them with their English counterparts. If you go that route you end up with a really poor translation similar to machine translated games, where sentences don't make sense and the game plot becomes so hard to follow that it may as well be impossible. No, translations need to be done correctly. You need to spend time to understand the context of what the original writers intended with their dialogue, and if a sentence is intended to have a comedic or emotional response you need to somehow retain that sense of emotion when moving from the Japanese to the English language. That isn't always easy.
If the original writers of the game aren't bilingual, the development studio will need to find and hire writers who are, and not only that but they need to find *good* writers who are bilingual so that they can keep the tone and pacing of the dialogue similar to the original writers' intent.
But yeah, if you understand Japanese and you are willing to undertake the difficult process of finishing up the fan translation we have here, feel free to start if you think it's that easy. Just be aware that you might face some legal issues if you manage to finish it and the developers decide they want to come after you.
