SInce zabbix 2.0.0 a few new macros have been supported in trigger names. These are correctly translated when sending alerts but are not translated anywhere in the frontend, like other marcos are. This led me to the initial conclusion that the feature does not work.
Now that i've received an alert I know it works but translation of macros should be consistent throughout zabbix.

For example

is translated with the actual hostname when viewing host items or dashboard.

,

and probably others are not.