Yes, it's doable ... but tricky. You'll have to run an INSERT script on the wp_postmeta table. Remember, the table has three columns: post_id, meta_key, and meta_value.
So if you know the ID of the post and the meta value you want to set, you'd run the following query:
INSERT INTO `wp_postmeta` (post_id, meta_key, meta_value) VALUES (*ID*, 'translation', *VALUE*;
Where *ID* is the id of the post you're attaching the value for and *VALUE* is the meta value of the "translation" field.
Like I said, doable ... but you'll need a separate INSERT query for each post. You could dump all of these into a single text file and run the entire set in one pass if you want, otherwise it might take as much time as it would to just add the key through the WordPress UI in the first place.