Hi Teo
The translation tools project is planned to be built from scratch. So we do not have any bugs yet :-)
What I suggest is that you go through the idea details and the related threads in this group. Once you have a good understanding of the project - start working on a proposal that you can submit to GSoC.
Working on open source projects is no rocket science, and even easier for a new project like Translation tools. It would be good to have some idea about versioning systems like git, svn, etc. We use git btw :)