The new stable build is already live in the Play Store & users should have received an update notification by now. The translation bar implementation in the mobile version should be very similar to what users can already see in Chrome on the desktop. Google also said that right-to-left languages support has been vastly improved, Chrome 28 also marks the end use of the traditional WebKit rendering engine as Blink takes over.
Chrome 28 now supports a fully fledged tablet UI in fullscreen mode & also comes bundled with an experimental data compression using Google’s SPDY network technology. The feature shrinks elements such as images into smaller chunks in order to decrease data usage.
Grab it from the Play Store if you don’t already have it installed, and give the translation features a try by giving it a spin!