For languages which have difficulty in translating transparency, does this alternative wording convey the meaning properly?
By submitting, you agree that your information will be used under these $1.
Not really. Part of the feedback will be public, hence the use of "transparancy". I haven't ready the $1, though; that might give some extra clues.
According to the documentation, $1 is a link with the anchor text "terms", so as far as the translation is concerned, it's simply the word "terms".
I changed my translation to read "By submitting, you agree that your contribution will be used publically under these $1."