Please read docs of WC – https://woocommerce.com/document/woocommerce-localization/ and our documentation – https://xstore.helpscoutdocs.com/article/30-base-theme-translation
You will be able to disable the Loco plugin once finished the translation. You do not need to translate all strings, just texts that are visible on the frontend.
One standard license is valid only for 1 project. Running multiple projects on a single license is a copyright violation.