Ok… I don’t mean to sound like an idiot, but it just kind of occurred to me that the Traditional Latin Mass might actually be in Latin. Is it? Even the homily and the readings? If so, do people who don’t know Latin ever attend it? Is there any point in attending it if you can’t understand anything?
Sorry, I guess I’m kind of clueless about Traditional Catholicism… there’s no TLM where I live.
Yes, everything in the Extraordinary Form of the Mass is in Latin, with the exception of the homily. Sometimes, the priest will also re-read the readings in the vernacular at the beginning of the homily. It should also be known that Latin is still the official form of the ORDINARY Form of the Mass as well. It is allowed in the vernacular as an option (which is almost always used), but it is PERFECTLY acceptable to use Latin even today.
Yes, people attend it all the time without having to know Latin. How do you think people went to Church before 1962? For hundreds of years, the Mass was said without anyone in the pews actually knowing the language. Still, that shouldn’t be a barrier in any way. Here’s why:
People at the Extraordinary Form have Missals that they can use. People follow along in the book, and it contains all of the prayers in Latin, with the English translation side-by-side.
Since most of the parts of the Extraordinary Form that are said in Latin are repeated in the same way Mass after Mass after Mass, then over time, most people eventually learn what is being said by memorization.
One reason that Latin is retained is that it is a dead language. The words no longer change over time. A problem with vernacular translations, such as English, is that the meaning of words change. As an example, we have issues with Protestants accusing Catholics of “praying” to saints. Part (although in fairness, not all) of the issue is that the word “pray” has changed over time. In Shakespeare’s day and age, to “pray” simply meant to ask (like the old expression “Pray tell”). IT didn’t necessarily refer to worship. So, the translations constantly have to be monitored to make sure that the language actually means what it’s supposed to mean. In fact, a new English translation of the Ordinary Form of the Mass, with several significant changes, is expected to be issued by the Vatican around 2010.
I can add a litlle to Rolltide’s explain.
Homily is not a part of Mass in TLM
In the history of church sometimes Traditional Mass was also said in vernacular - for instance in Old Church Slavic - first Slavic language codificated by Saints Cyril an Methody in IX c. (which in the fact is also Dead language now). Attantion - I mean about western (latin) Liturgy not eastern in which Old Church Slavic is in regular usage in liturgy.
Now such TLM in this language is celebrated by FSSPX priest two times in year in Czech Republic.
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Is it? Even the homily and the readings? 
If so, do people who don’t know Latin ever attend it? Is there any point in attending it if you can’t understand anything?