Just to clarify, these are the individual steps I took:
Run binwalk on 'Ogre Battle 64 - Person of Lordly Caliber (U) [!].z64' using extract flag. You made need the lha or lhasa tools installed to automatically extract them.
Code:
$ binwalk -e "Ogre Battle 64 - Person of Lordly Caliber (U) [!].z64"
DECIMAL HEXADECIMAL DESCRIPTION
--------------------------------------------------------------------------------
255086 0x3E46E LHa 2.x? archive data [lzs] [NSRL|LHA2]
255094 0x3E476 LHa (2.x) archive data [lh5] [NSRL|LHA2]
255102 0x3E47E LHa (2.x) archive data [lh4] [NSRL|LHA2]
255110 0x3E486 LHa 2.x? archive data [lh3] [NSRL|LHA2]
255118 0x3E48E LHa 2.x? archive data [lh2] [NSRL|LHA2]
1050529 0x1007A1 Neighborly text, "neighboring countries@3@l@e@1@2Lord Lodis.@3@l@e"
6514564 0x636784 LHa (2.x) archive data [lh5] [NSRL|LHA2]
6594636 0x64A04C LHa (2.x) archive data [lh5] [NSRL|LHA2]
...
From there, you'll have a bunch of *.lha files in a subdirectory. Most of them will be the wrong size since the tool does not correctly determine the end of the LHa stream, so you'll probably end up with 6GB of files. If it doesn't automatically decompress them, you'll manually have to do it. This can be done with 7zip or the command line 7za or lha tools. In particular, the '1FD0958.lha' file contains the 'serifu_01_0.bin' file from my example above:
Extract that binary and then you can open and view it in a hex editor (I was using HxD in that screenshot).
In order to make changes to these files, you will probably want to write a tool or use an assembler to correctly update the offsets in the binary files. If you have any questions about how to do this, feel free to ask. I can also probably set up an example for you, similar to what I setup for the
SM64 Spanish translation work.
There are two more issues that you will probably need to resolve. One is finding where the table of LHa files is in the ROM. You may need to relocate some of these files if the translation produces larger LHa files than in the original and this table will then need to be updated. Second, if you need the accented characters, they may not exist in the font in-game and you may need to modify the text display code to support them.