WP Theme Options is compatible with WPML, so if you want to create a multi-language website this is a great functionality for you, WPML is a premium plugin that u can purchase here: wpml.org
To make the Options Panel translatable, you need to install the following WPML Plugins:
- WPML Multilingual CMS
- WPML String Translation
You should configure WPML correctly, if you never use this plugin you should take a look to their documentation or ask for support on their website.
To start translating all the values from the Theme Options you should navigate to:
WPML > String Translation