are there any translation limitations?

I do not know of any translation limitations. However if you do find any please raise an issue and I will fix them.

I only speak 1 language so I don't know a lot about translation but I will do anything I can to make sure that there are no limitations in translations.

so basically what are you saying is that it's not yet tested or no issues have come up so far consering 'tranlastion' problems.
ok let me ask you something for example with ubercart.

• Ubercart makes no distinction between normal nodes and translation nodes. So every node thats a translation is a product on its own for Ubercart.
• Also,
  a lot of what most people would consider core functionality like stock levels, attributes are not core to the product and so synchronising across multiple translations becomes a nightmare the more products you add.
• and other issues here http://www.ubercart.org/forum/internationalization/8725/translating_prod... and http://www.ubercart.org/forum/internationalization/4246/multiple_languag...

. . .
p.s :sorry that i have to mention ubercart but it's you and them when it comes to drupal ;)