Here is what Tom Cohen writes on Benjamin's peculiar "translation":
Walter Benjamin makes reference to a concept of history that breaks with the familiar notions of the term. As we know, he was given to taking familiar terms (allegory, cinema, dialectics, translation) and submitting them to a process of disinvestment. He called this "translation" : a site where the word passes through its own formal properties, emptied of "meaning" or interiority, and is then returned (unmarked) to usage in a sabotaging form void of subjectivity. Allegory becomes the other of the literary historical term; "materialistic historiography" dispels any ECHT Marxian hue; dialectics is unprogressive and anti-narrative, and so on.
And then, the following interesting remark on history:
Typically, "history" survives this procedure--which aims to empty out all interiorist traces--only to re-emerge within a different referential order. Rather than implying historicist echoes, Benjamin invokes a non-human "history" that will be gestured to under the misleading rubric of "natural history"--a history, we may add again, with different, proactive folds of time.
Tom Cohen, Ideology and Inscription (1998)