I'd use signals.
Create a signal:
signal translation_changed
in the ready function connect the signal to the script:
connect("translation_changed",self,"_on_translation_changed")
then, where you change your translatino you emit the signal:
emit_signal("translation_changed")
and put your code to do stuff when it changed in a function called "_on_translatoin_changed"
, or how you decide to call it, just make sure its passed as the 3rd argument in the connect function.