It does! You can add a localizable title and description ("title" and "description" fields in the JSON).
Just to make sure : you mean by that since wikitext is parsed, we can use every bit of template magic we want, right? (Like, no special system I may have missed)
(All folks : don’t forget to get the messages translated on TranslateWiki! [1])
Where can I add the title and description (or suggest the change if I don't have the rights)?
I put a title for Sweden using some template magic [2]. Feel free to ask for edits on the talk page (you can use {{edit request}} to draw sysop attention)