Hi,
Update the theme – http://xstore.helpscoutdocs.com/article/63-theme-update
1) Theme Options > Header builder > Account > http://prntscr.com/tsm6ka
WPML > String Translation > Translate texts in admin screens > find theme_mods_vaitrims > select “account_text” and “account_logged_in_text” >click on Apply. Translate these strings via String Translation.
2) I would recommend you to contact WPML plugin support. Then let us know if any assistance will be needed from our side.
Regards