Catechism of Trent: Form To Be Used In The Consecration Of The Wine:
"With regard to the consecration of the wine, which is the other element of this Sacrament, the priest, for the reason we have already assigned, ought of necessity to be well acquainted with, and well understand its form. We are then firmly to believe that is consists in the following words: This is the chalice of My blood, of the new and eternal testament, the mystery of faith, which shall be shed for you and for many, to the remission of sins.
"Thus the words, this is the chalice, are found in St. Luke and in the Apostle;(but the words that immediately follow, of my blood or my blood of the new testament, which shall be shed for you and for many to the remission of sins are found partly in St. Luke and partly in St. Matthew . But the words, eternal and the mystery of faith, have been taught us by holy tradition the interpreter and keeper of Catholic truth.
"Concerning this form no one can doubt, if he here also attend to what has been already said about the form used in the consecration of the bread. The form to be used (in the consecration) of this element, evidently consists of those words which signify that the substance of the wine is changed into the blood of Our Lord. Since, therefore, the words already cited clearly declare this, it is plain that no other words constitute the form…
Explanation Of The Form Used In The Consecration Of The Wine:
"…The additional words for you and for many, are taken, some from Matthew, some from Luke, but were joined together by the Catholic Church under guidance of the Spirit of God. They serve to declare the fruit and advantage of His Passion. For if we look to its value, we must confess that the Redeemer shed His blood for the salvation of all; but if we look to the fruit which mankind received from it, we shall easily find that it pertains not unto all, but to many of the human race. When therefore (Our Lord) said: For you, He meant either those who were present, or those chosen from amoung the Jewish people, such as were, with the exception of Judas, the disciples with whom He was speaking. When He added, And for many, He wished to be understood to mean the remainder of the elect * from among the Jews and Gentiles.*
With reason, therefore, were the words For all not used, as in this place the fruits of the Passion are alone spoken of, and to the elect only did His Passion bring the fruit of salvation. And this is the purport of the Apostle whenhe says: Christ was offered once to exhaust the sins of many; and also of the words of Our Lord in John: I pray for them; I pray not for the world, but for them whom thou has given me, because they are thine."
St. Alphonsus, Doctor of the Church, taught the same in his book The Holy Eucharist.
St. Alphonsus Liguori: “The words Pro vobis et pro multis (“For you and for many”) are used to distinguish the virtue of the Blood of Christ from its fruits; for the Blood of our Savior is of sufficient value to save all men, but its fruits are applicable only to a certain number and not to all, and this is their own fault. Or, as the theologians say, this Precious Blood is (in itself) sufficiently (sufficienter) able to save all men, but (on our part) effectually (efficaciter) it does not save all — it saves only those who cooperate with grace. This is the explanation of St. Thomas, as quoted by Benedict XIV.” END
Now, regarding defects that would invalidate the sacrament, the Council of Florence said this:
Council of Florence, De Defectibus: “Defects on the part of the form can happen when something is lacking which is required for the integrity of the words in the consecration itself. Thus the words of Consecration, which are the form of this Sacrament, are the following: Hoc est enim Corpus meum. And: Hic est enim Calix Sanguinis mei, novi et aeterni testamenti: mysterium fidei qui pro vobis et pro multis effundetur in remissionem peccatorum. Thus if anyone should shorten anything, or should change anything in the form of consecration of the Body and Blood, and if, by the change, the words do not signify the same thing, he would not confect the Sacrament. If in fact anyone should add or subtract anything, which would not change the meaning, he would indeed confect it, but would sin most gravely.” END
The Council teaches that if a word is changed in such a way that the new word does not express the same meaning as the original, the sacrament would be is invalid. Since the Catechism of Trent specifically stated that “for all” is not to be used, it is very difficult to argue that “for all” and “for many” mean the same thing. Therefore, the conclusion of some is that the mistranslation invalidates the Mass.
That’s probably what your friend based his belief on.