From the wiki linked above: It's possible, but not via a plugin (unless you're using Spout and SpoutCraft). It's a client-side modification that's necessary, not something that can be done strictly server-side.
That's incorrect. Translating the standard galactic alphabet only gives you effectively random words that have absolutely no relation to the enchantment that will be cast upon the item. It would be nice if there was a plugin that replaced that random string of arbitrary words with the string of the actual enchantment that would be applied to the item. This would allow you to actually pick the enchantment that is being applied instead of relying entirely on luck. It really sucks to spend half your levels on yet another sword of sharpness, I tell you. Is such a thing possible? It doesn't look to me like there's any hooks into the enchantment table code yet, so my guess is no, but I've only been looking at the plugin API for about 10 minutes, someone more experienced should be able to confirm this.