After creating a small test mod to play around with, I’ve discovered that the translations for simulation values are not loaded.
The simulation bubbles still show up and work properly as far as I can tell, but there is no title or description even if they’re written in its translations file.
I’ve only tested policies (which work) and these, so this could also affect situations, dilemmas, etc.
I asked the developer about this issue on the steam forum and he said that modding localization for simulation objects is not currently set up but something he is still working on.