But note that MSN Messenger will continue to exist for a very long time. It is not because WLM will be released that all previous versions will not be used anymore all of a sudden. So is it usefull to translate for the "old" version (although I do not want to call it "old" at all)? Yes, IMO it is. Many people will still use MSN Messenger instead of Windows Live Messenger...
As for the special localized German/French mixture dialect of Switzerland becomming an official translation in Plus!. Maybe, but I doubt it. Though, there is nothing which prevents you from creating it and putting it on the forums
(PS: and translating it for 3.62.146 would be a good practice for the upcomming WLM btw.)