The name in the menu is "settings", in english ; it should be "paramètres" in french. This problem is visible in the menu only. The translation in the submenu and in the titlebar is correct. I saw that with the 64 bits only (Mageia 3 beta 2 DVD) ; the translation is correct with the 32 bits version (at least with the beta 1, the beta 2 is not installed yet on my netbook).
Bugs about Xfce translations should be reported to upstream [1]. Closing as WONTFIX. [1] https://bugzilla.xfce.org
Status: NEW => RESOLVEDCC: (none) => jani.valimaaResolution: (none) => WONTFIX