To answer the question you wrote: No.
But I have a script that takes a file in compat.tab format + translation folder and turns that into a new translation folder for import. (Translation import is an append operation in STL.) This is economical only after large changes, since you have to import one file/language at a time.
Thus, the answer to your real question is a cautious yes
edit: Oops, that wasn't for me to answer! Anyway, I asked about this already once, and the result was my script.