@Steve Brewer - no problem with updating the language. However, I am not sure "reusable" fully carries what I am I asking for. If I reuse a translation - it will become another instance of that translation - and therefore I am still left with having to update every instance of that translation when a new value needs to be added.
As this is a very frequent occurrance within our gift processing structure, with the ability to save one instance of a translation and apply that single translation to all selected formulas, using OC for our gift processing really becomes too much of a risk.

Thank you for your idea Milly. We can definitely see how being able to save and then reuse a set of transformations across multiple formulas would ensure consistency and make it less likely that errors or data problems will occur.

Transformations are excellent, but having a single collection of transformations that I could apply on multiple formulas would be much more useful. Having transformations setup so that I can save them (possibly added to favourites?!) and reuse them would mean I just update 1 collection of transformations / favourited collection, instead of having to update multiple formulas with the same collection of transformations 5 or 6 times when I need to update the transformations to add a new value. Having to update each formula separately opens the door to items being missed, transformations being out of sync and errors in the database

If having to update a transformation you have to do it on each formula