I've looked at this game a little bit and extracted all the text I could find. It's been a while since I've looked at it, but if anyone wants, the text can be found in the following links:
http://www.mediafire.com/download/h00jmtd8ueqej11/data_msg_txt.zip
http://www.mediafire.com/download/fqnzf1tm6gqapcw/UnchainBladesExtractedText.zip
In extracting the text, I can tell that some effort needs to be put into re-packing the text (into a KBD format). Extraction is easier, since you don't have to figure out the exact format of the container, but putting it back together if you want to change things will take some work.
I was also able to extract a handful of images, so I'd say a translation is feasible, but I don't know how much effort it will take to make it "look nice".