Trying to override a property on the translator. Created the override (loopback-1), then changed the Translator for the source model (long.xmi) to map to the loopback-1 override. Saved the vdb. Then tried to deploy the vdb to the server and got the "VDB Not Deployed" dialog indicating the translator is missing.
To get around the issue, manually copied the vdb from the workspace to the server and was able to verify the override worked.
What appears to be happening is Designer is validating the vdb against a list of translators that don't include the override.