Hi there,
That’s about as approved as it gets! It means that the diocesan censor has found nothing in it that goes against faith or morals. It does not mean that this is a good or bad translation. The Church has never approved the quality of a translation . The farthest it got was when the Council of Trent stated that "the old and vulgate edition, which, by the lengthened usage of so many years, has been approved of in the Church, be, in public lectures, disputations, sermons and expositions, held as authentic; and that no one is to dare, or presume to reject it under any pretext whatever. This means that, when it is quoted, you cannot refute it under the pretext, for example, that the translation is wrong. This statement says nothing about the quality of the translation or even of the value of the original manuscripts from which it was done.
Verbum