Don’t edit pinboard.pot, instead, copy and rename it to pinboard-es_ES.po (if ‘es_ES’ is the laguage you want to translate to), then download and use poedit (http://www.poedit.net/). Open your new pinboard-es_ES.po, translate everything you want, and save it.
After saving, PoEdit should have created a compiled file named pinboard-es_ES.mo, and this is the file you have to upload to your server. Place it inside the folder wp-content/languages/themes, it should work fine.
With the .po file you won’t be able to translate some “hard coded” parts. I’ve been using pinboard only for a week or so, but I think those parts are just a couple of things (if you use infinite scroll, for example, you’ll have to modify functions.php if you want to change ‘Loading more posts’ or ‘There are no more posts to display.’)
Regards
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