After some thorough investigation, I believe we can provide a response on this thread. There's not currently any issue happening which might affect multiple users. Rather, this is a case of several users hitting similar errors at the same time, and the cause ultimately traces back to a somewhat unclear statement of the quota as seen in the API console.
Translate API considers QPS as
characters per second, not requests per second. At 1000 characters per request, this is very plausible to be hitting the documented, displayed 100 per second limit. The 100 QPS rate limit is 100 characters per second. If you require a higher limit,
you can request a quota increase. I hope that this is informative and helpful to all of you and that you will feel free to open a quota increase request if you feel so inclined. We've opened an internal bug to get the quota to display more clearly what it means.