Dear Florian and Valentin,
the DO text collection - in my understanding - is a component usable to manage texts of a particular usage type. I can imagine e. g. a contract which has multiple parts, each with a defined purpose. Storing these contract-specific texts in multiple languages could be managed with a text-collection.
For a simple language dependent text (such as the project name), a simple subnode and parametrized association as proposed by Tilmann sound more appropriate to me.
Cheers,
Oliver
