Has anyone managed to emulate it properly, for starters? For me, it hangs here (even on recent Dolphin versions, before you mention the version here):
After I choose a nickname on the GBA and press Start, the "Look to the TV" prompt appears and Tetra says something.
Then a "Look to the GBA" icon appears and the controls don't respond anymore (the game doesn't even care if I unplug the GBA/Controllers.. a softlock?). And nothing new happens. I'm stuck here.
Both "Look to TV/GBA" icons continue blinking, and Tetra yawns after a while.
(Bonus)
Here's some control codes I figured out, if that's any help:
00 = End Current Dialogue
0A = Line Break
[Colors]
1A 06 FF 00 00 XX = Makes next text in the color XX (it's present before every text)
Values: XX=?
01: Red,
04: White,
05: Green,
06: Pink,
09: Brown-black (standard color)
[Icons]
1A 07 00 00 08 1A 3E = Start button
1A 07 00 00 04 20 33 = GBA icon
You might have found the prototype English logo, I think

(it's there)
The two Satellaview Marvelous Mouhitotsu no Takarajima games (not the regular SFC game, which is a bit different) have mostly the same gameplay as Navi Trackers, which is essentially the third BS game, and they're much easier to translate (not so much to restore missing BS content as subtitles like Zelda 3 BS translators did, though).
Just saying if you're interested in the gameplay style itself rather than the Zelda connection.