Localization Workbench

Hallo!
I've got the task to translate our module from German into Englisch. Especially the field names that are German should be translated to Englisch - according to the Standard. Furthermore, both the ENU and the DEU ML-Captions should be changed adequately. I already created a Excel-File with alle (German) Field Names and Translations. A workmate told me that the tool Navision Loclization Workbench could help me executing the task. I already read the whole documentation enclosed with the toll (NWL User's Guide) but the reading nevertheless raised some questions.
I regret, I did not find any further documentation about the tool. Maybe all of my questions would be answered. If there is none, here are my questions :
Firstly, nothing is told about the preparatory which is necessary in Navision. I assume that Extra-Translate-Export is the right path? Now, I added this .txt file to my newly created project. (Another Questions: The Project I created should be a project with the source language German and the target language Englisch, shouldn't it? The Country Setting in the same Dialog Box is United States or Germany?
Is there any way to get the translations from Excel into the Tool automatically? Unless there is none, how can I do it manually?Can I change the caption with the tool, too?
Ok, enough questions for the moment
Thank you very much in anticipation of your help!

Kind regards from Sailing-City Kiel,

Jut