I found a cool new friend today. While testing Bing translator, i sav that the Microsoft Traslator Team had created a Translator Bot for Windows Live Messenger.
Using this bot to translate text from and to any of the following languages:
2 Chinese Simplified
3 Chinese Traditional
And of course this also works from your Office Communicator. Just add the bot to your contact list, and you are ready to translate. (you will need the Public IM Connectivity)
Translation Bot for Windows Live Messenger