Yeah, I saw last week. Excited, but they are going to have a hard time. They want to translate the games in Chronological Order so the fans can follow the overarching story. Problem is, the Original Rance 2 is not very appealing, and the remake is based of the System4 engine.
To my knowledge, there is not extraction tool that can reliably unpack the scripts in the .ain file of System4. Crage-tool seems to have stopped development a year ago, and I can only get it to extract bmps of the CGs, plus the opening movie. The .ain file just won't unpack.
The team that did Sengoku Rance (VII), Yandere Translations, had a custom designed tool that only works for Sengoku Rance. Despite the fact that the game uses the System4 Engine, I am not sure their tool would work on the Rance 2 Remake.
So bottom line, until they find some good hackers who can crack the .ain file and and repack it with translated scripts, don't expect to see much progress. I wish them luck, but for now, Sengoku Rance and Big Bang Age will have to keep me occupied.