Where possible you should avoid referencing column definition items that return data such as the current date or a file translation, where the data in the translate file might change, as these can produce an inconsistent index.
However, in the case of translate files, these arrangements are acceptable so long as either static data is used or proper management is exercised. For instance when relevant changes to the translate files are expected the index should be deleted, prior to the changes, and the index re-built. It is perhaps worth mentioning that it is perfectly ok to add new translation items to the file. It is the act of changing current translation items that causes a problem.
The consequence of ignoring these points could be an invalid index. This would seriously affect the integrity of your query or selection thereby producing inaccurate query or selection results.
Evidence of an invalidated index could be detected by using VERIFY-INDEX.