This msdn blog post gives some insight into the not so far away past of software localization:
With tools like Sisulizer you can localize your software while you are developing it. A simple call of Project – Scan for Changes updates your project to the latest build and re-uses everything already translated. No more need to re-translate dialogs after your software changes while developing it. Your localized version can be released without delay.
Thanks to Gert from GdP Software (www.gdpsoftware.com) for the above link.