I'm strongly in favor of localizing the mod description: Along with the name, that is what people will see when they've selected your mod in the game's mods manager. If anybody is playing the game in another than the default language, they usually do it because they don't feel comfortable in English and prefer to use another language. Having a localized mod description is actually helpful in this case.
I'm still in doubt about localizing the mod name, though. Sure, the localized name may be easier to understand than the default name! On the other hand, it may be confusing if somebody were looking for help on the forum. Just imagine somebody has an issue with whatever and is asked for the mods active in the game. An answer like "Rayxeüàlwus ölſawy" would only be useful to those who speak this nonexistent language I've just coined a phrase for -- while something like "The mod that makes everything better" would make it easier for everybody to find the mod.
I usually don't play games in any language than English (makes it easier to search for it if I have any questions), so I may be biased. My hope is therefore to learn of any other arguments for or against localized mod names, and whether there is something like an informally established standard.
(Please note: I've already found this poll on a similar question, and 50% of the respondents were in favor of localized mod names -- but that's only 50% out of a total of 6 people, so the poll is hardly representative.
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should provide a key for mod name (and description!) in the original localization file to help them. That could become an unofficial standard.