Facebook just announced Translations for Facebook Connect. Unlike machine translations, this tool would allow developers to compare their website text content to translated phrases crowdsourced through the vast Facebook social network. This is the same tool Facebook used to translate their own site quite rapidly into over 60 languages. Translations essentially solicits free translations from the social network, and the highest rated translations get used. It will be interesting to see how various webpages offering intricate combinations of phrases maps back to the Facebook system.
Others have tried this, using forums and wikis, but none with the scale of users Facebook can offer. Of course, Facebook is also attempting to patent crowdsource translations, which is bit like Metallica trying to own the mosh pit.