Umbraco 4.11 have included localization possibilities for creating multu-lingual sites, but if you want to translate your content you need to download it in the XML format and them upload translated XML file.
Does the tool for Umbraco CMS that provides translation of the content in the same way as creating content with administrative UI? I mean just to select the node, locale and input the data in the properties fields.
Umbraco does not have a core auto-translate function. There is a send-to-translate (http://umbraco.com/help-and-support/video-tutorials/umbraco-fundamentals/running-multiple-sites/translation-workflow.aspx) option - but this is a workflow rather than a tool.
There are lots of translate tools on the internet that you could plug in - for example https://translate.google.com/manager/website/ - most translation tools are not free & without being multi-lingual it is difficult to asses how good the translations are.
The Umbraco Level One training course does go into generating a multi-lingual site - based on multiple structures on the Content section for each language/locale - these separated content structures would share templates.
In .Net the usual way to have multi-lingual boilerplate & buttons etc is using resource files (http://msdn.microsoft.com/en-us/library/fw69ke6f(v=vs.90).aspx) that basically switches between language/locale.
So your alternatives are use a translating plugin - or bake in all your translations & switch between languages based on locale.
