The translation side of Spriggan Mark 2 is completely finished. Bonknuts's inserter is also totally finished and AFAIK he made a test version of the game that's completely in English.
However, the cutscenes are another matter. Again, the translation is finished, but the hacking is a big challenge. There's the option of doing a dub, which as you know, is quite an ordeal. Otherwise, I think he's leaning toward making subtitles. I could be wrong, but I think whether that's easy or difficult was going to depend on whether there's enough space in the main CPU RAM for a print routine and enough in the video RAM for a font. If not, some serious work would be required.
Bonknuts did have some personal things come up, and I can't blame him for putting this kind of thing aside while he takes care of what he needs to. I really hope he finishes it, though, because I know it's a game he loves.