Possibilities
Well, I think that it's possible, yah. I'm only about half way through transcribing (not translating, transcribing) the first episode. Come Christmas break, I should be able to spend more time on it.
I think voice auditions would be great. Just send a bit of the script out, and anyone who wants to participate, send in an audition.
As for software, it wouldn't be hard for me to do here on my end, with my trusty Mac. That is to say, I'd be willing to give it a go.
What might be more difficult would be the background noises and whatnot. I'm not sure it'd be worth trying to Dub Pascal's voice. Where he's singing a lot, it may be better to sub him.
If enough people are interested, we should set up a site where we can collaborate and make this happen.