Shouldn't there be enough translations to play the game with up on GameFAQs by now?
Regarding the game coming over, I don't see why not. Dragonball Kai is not an entirely new anime, it's not even a remake, it's just a remastered version of DBZ with a lot of the material cut out, done to capitalize on DBZ's continuing popularity by kicking off a 20th anniversary merchandising blitz. It's still the same show with the same story, and DBZ is probably at least as popular in the West as it is in Japan, so I don't see any reason why this wouldn't get brought over when all the OTHER DBZ videogames made during the last couple of years have been brought over? Even if you assume that Dragonball Kai the show won't be licensed (which is completely impossible to predict right now, as there's too many unknown factors such as what Japan will want to charge for licensing fees or how it relates to current licensing agreements or how much market penetration FUNi thinks they can get in these troubled times), that really doesn't have all that much bearing on whether the game'll be brought over. And given that the market for DBZ games is apparently pretty good, I'd say there's a fair chance.
In either case, though, it's not nearly clear enough to justify a bunch of people charging in here and stating flatly that it will or won't be brought over as if they were 100% certain and backed by official announcements saying as much. There's a pretty good possibility, though, which should be enough to get people to think twice about fan translating the thing.