Current module page says:

Currently this work only supports content translation, but we would also like to add support for field translation, including the Title module.

However 7.x-2.0-alpha2 release works with entity translation and title module, at least basic setup.

I've tested this code:

<p><a href="/node/1">Node 1</a></p>

<p><a href="/node/2">Node 2</a></p>

<hr />
<p><a href="node/1#abc">Node  1 with #</a></p>

<p><a href="node/2#abc">Node  2 with #</a></p>

<hr />
<p><a href="node/1?param1=1&param2=2">Node  1 with ?</a></p>

<p><a href="node/2?param1=1&param2=2">Node  2 with ?</a></p>

<hr />

<p><a href="node/1?param1=1&param2=2#abc">Node  1 with  # and ?</a></p>

<p><a href="node/2?param1=1&param2=2#abc">Node  1 with  # and ?</a></p>

<hr />

Node 1 and node 2 are different contet types with entity translation and using the title module field (title_field). Links are rendered without flaws (right alias, right title in the a tag title attribute).

May be there are bugs, but basic funcionality is ok. I think is good to update module documentation to enourage users to use this module.

For example:
From :

This module was written for a monolingual site before there was much support for multilingual sites in Drupal 7. Improving support for multilingual sites is also a goal and is taking place in the 7.x-2.x branch. Currently this work only supports content translation, but we would also like to add support for field translation, including the Title module.

To:

This module was written for a monolingual site before there was much support for multilingual sites in Drupal 7. Improving support for multilingual sites is also a goal and is taking place in the 7.x-2.x branch. Currently content translation, field translation and Title module are supported, although more testing is welcome.

7.x-2.0-alpha2 release reports 70 installations.