But you'll never get those pesky entity titles !!
It'll take a bit of doing. And it took me sooo long to work out. Several modules will get you close... but not complete. Infact, I gotta revisit this post because I think it even depends on some detail in the order in which you do things. Perhaps tomorrow.
Here's the awesome Drupal module combination that I end up using:
Title Module: Because titles are not fields, they're properties so they cannot be translated as fields. Title Module will give you the opportunity to convert your Title property to a Name field. Then they can be translated (except for when you're on the edit side of the node. then you can translate it accordingly. and if other modules play nicely with it, than Title Module is golden.
Taxonomy CSV: Especially if your vocabulary preexists in some other format, ie spreadsheet / CSV; extra especially if it's a hierarchical taxonomy requiring several parent / child layers, then you'll need this to do your FIRST import of the terms.
Entity Translation Export / Import: This module doesn't seem to give a hoot about hierarch. It cares even less if you don't have your taxonomy existing already somewhere else. I imagine that's why the module's name is "... EXPORT / IMPORT". You will have to do the EXPORT first with this module. However, it does a great job of teaching you what it needs and then demands that back from you. You provide translations for all the terms in the CSV file matching whatever language with whatever other language. The original terms are tracked by Term ID.
You save your translations in the file and import it back through the same interface and BOOM.. you got translated Terms
I will revisit to figure out any translated stuff.