Heh. For some reason I thought there was a 3ds effort as well. Technically there were some more recent pachinko machines.
Anyway I don't know if idea is the right term -- any game that is not translated is fairly obviously a candidate for it (yes I have seen people try to translate language tutor games) and plenty of people have asked for this in the past. Don't know if anybody has yet taken a look at it from a hacker perspective. It is an early game though so it might well be a fair bit of custom work.
As ever though a translation is going to take many hundreds of hours. You will have to sell us on the game itself or the game if a hacker makes a few tweaks to it to make it a good one.
In the English speaking world then the only Goemon game most will have played will have been Mystical Ninja starring Goemon on the N64, possibly its sequel and maybe the SNES effort as well but most will only know n64 Mystical Ninja. You might then have to reference that and if this game is anything like it.
Relevant at this point