Yes. I haven't checked to make sure, but I imagine that every address (or at least many of them) in the text dump has changed by now. The text dump is for 1.100, after all, not 1.120.
But for small numbers of lines - for example, just the text needed to translate the menus - this isn't a problem, even if recalibrated manually. And the menus and absolutely the most important thing to get translated, since it makes it a lot easier to play the game. Even after playing the trial, I never did figure out how I was supposed to level up skills. I could only do bonus points to stats.
Finally, I already wrote a program to check translations against the LoT1 stuff for consistency. It shouldn't be too hard to update it to insert the new translations, making everything a lot easier.