I thought of things like that too but the problem is that I would have to make the graphics first of all and I don't know how good it would come out since I can barely view them in the first place(multiple rom hacking programs give me different views but nothing clear like with snes games so far). Also there's so much to make and I'd be making them all the time as I translate. You got the technical stuff correct but I'm not so sure. I might try to make name graphics to use as I can borrow space from the sentence for the name.
Ex.
(冥加 - 4 bytes per kanji = 8 bytes in japanese) + sentence (x bytes)
->
(Myouga - 2 bytes per character = 12 bytes in english) + sentence(x-4 bytes)
the four bytes were taken from the name leaving less room in the sentence. Those four bytes could be recovered if I make graphics for all the names and then his name is back to two characters "Myo" +"uga". I would have to make a "Myo" and "uga" character though and again I'm not sure how easily I could do that.