It's technically an alternate universe, not really tied to Clannad (not even the Tomoyo route, which TA takes liberties with) and isn't a sequel or prequel or really made to be seen in relation to the events of that visual novel.
As for a translation project, there is one that Baka-Tsuki (those who are also doing the translation project for Clannad) is running. I'm not sure what the status is on that, though.
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