The guys I suggest to you are Bongo (he very active) and Nightcrawler.
As far as I know Nightcrawler finished the Glory of Heracles 4 hack, and from his messages about Glory of Heracles 4, this game has much more complex menus than FEOEZ. So I'm certain he can do an amazing work in FEOEZ.
I would like to add to your thoughts. To do it, please let me quote Nightcrawler.
"It doesn't surprise me. He [Byuu] hasn't been serious about doing any ROM hacking in a very long time. BSNES and the cracking of the chip algorithms makes hacking this game quite a bit easier than it was a few years back. Few people remain with the skills necessary to do a translation for FEOEZ. I keep hoping someone else will do it and save me the time, but it looks more and more unlikely as time goes on. I am over booked at present, but I will see that this game is translated before I retire. I own a copy of this game too."
This post was five years ago. Byuu will never do FEOEZ. The way he treated people asking him about progress in his message board was quite dishonorable, by the way. Nightcrawler is an awsome hacker with an outstanding track record. Have a look at his finished
projects. Just ask him, maybe he is willing to do it as it seems that work on Heracles 4 is steadily coming to an end. In my eyes he would be the perfect choice. Furthermore Bongo from Dynamic Designs (very active, gets projects done, good quality of hacking) or Lost Templar (impressive work with Arabian Nights!) come to my mind.