Inline translated refs 

Yes, your example on my talk page is a perfectly reasonable way to go about it.  You could also just provide the translations on the talk page, with a note that you're leaving them there in case anyone needs them.  You might consider including the original text as well as the translation.  After all, a few readers will understand Croatian.

As for using inline refs:  It's really fairly simple.  You just take the same text that you'd use for the regular citation, but instead of putting it at the end, under ==References==, you put it in the article, and put  before the footnote text, and  after it.  (What's confusing is trying to use the citation templates for inline refs, but those are strictly optional.)

If it's a ref that you expect to use repeatedly, then you name it:   (instead of just  at the beginning).  Then to re-use it, you only have to put    and the Wiki software will know that you want it to be the same number and citation text that you used earlier.  (Note the slash at the end.  Also, that's the whole thing for the subsequent uses:  there's no citation text after it and no  needed after it.)

Finally, if that sort of inline ref isn't your preference, then you might prefer what some people call "Harvard style" references, or Author-date-page references.  For that, you skip all the  stuff, and just put plain text at the end of a statement like this:  

The moon is big (Smith 2008:25).

That means that you found this information in a publication written by someone whose last name is Smith, published in 2008, on page 25.  Then you put a regular alphabetized list of citations at the bottom of the page, and the reader just scans down to see who Smith is if the reader is interested.  This "parenthetical style" is easy to type, and it puts less clutter in the middle of your article, so some people strongly prefer it.  

Remember that any complete, organized and understandable system of references is supposed to be accepted at FAC, not just the one that seems most common on Wikipedia articles.  Good luck,