Axel is correct as the extension connects directly to the WordPress database and extracts the data and displays in via Magento models, blocks, controllers etc. As a result, it would take an additional Magento extension that adds support for the qTranslate WordPress plugin.
Another way to accomplish a multi-lingual blog controlled by WordPress in Magento would be as follows:
Setup a WordPress Multisite installation in a sub-directory of your Magento site called 'wp'. Create a different blog for each of your languages. Using Magento WordPress Multisite Integration you could then associate each of these blogs to the appropriate Magento store view. As the customer changes the store view, the language will be changed to what ever language is set for the new store view and the correct blog will be displayed.
This is the method that the majority of people currently use but I will look into adding support for qTranslate via an add-on extension.