Sadly, I don't think so. All the names have to be translated, as do the descriptions for each 'mon, and the guides, and the descriptions, and all the other trainers...
It's not so big an issue as many, though.
I think it should be possible to do Japan then Europe/America, though. Or the other way round. If everything is translated for the EU countries, then America should follow suit quite swiftly after.
Well, it could be done where it is released in Japan first then America and the major English Speaking Countries in Europe, later on they could make it to where Germany and Spain (etc.) would have a translated version into their language. Do you think that would work better?