Right now it is not possible to translate properties for an asset (e.g. title, author, description).
As assets are also preside-objects the backend part seems to be solved.
You could easily set multilingual=true on the asset.cfc and define "title" as multilingual for example.
This results in the appropriate table and fields being created in the database.
The one thing that is missing is admin views in the asset manager to add translations.
There is simply no translation button and the related modal dialog or view to translate the properties.
It is really important for multilingual websites to be able to translate those properties. alternative texts or tooltips for an image should definitely be in the corresponding language.