Say, You need to store translations for books model. You should be storing them under:
en.active_record.models.book
And, all the book attributes should go under:
en.active_record.attributes.book.title
Keeping translations for each view might not be a very good idea as:
1) As you have pointed out, It is not DRY.
2) Translations take much time to load up in memory. So, more of them would increase the server start time.