Translating technology has come a long way since Babblefish. A new iPhone App called Word Lens combines augmented reality, real-time translation and character-recognition software that will have you heading to that Mexican restaurant you always wanted to try but couldn’t read the menu. The app looks for characters through the iPhone camera and translates them in real time, replacing the foreign words with their English counterparts (and visa-versa). For over 2 years, Quest Visual founders Otavio Good and John DeWeese have been working on the technology that will aid travelers abroad….