Don't say I didn't warn you!
I fully agree with mediamatrix. The whole scheme sounds like a bureaucratic monster, the "one standard" which sets out "to rule them all". And at the end of the day, we have one more project management system to put on the shelf alongside all the others.
I like this quote from RominaZ's summary:
The Language Interoperability Portfolio (Linport) project is a new proposal to define a standard format for representing and packaging translation projects and transmitting them through the entire production chain with full project metadata.
I would nominate this sentence for the "MEANINGLESS VERBIAGE PRIZE".
[Edited at 2011-08-09 12:59 GMT]