I think I might have found a new source for translating the Phyrexian language. When you play the card Phyrexian Scriptures on Arena, a banner unfurls. The markings on the banner are new Phyrexian text. Here's a screenshot:
From there, I checked known flavour texts on gatherer from the Scriptures (since the one on the art was the Dark Ritual text) and I found this on Phyrexian Altar:
"Unskin these impure bodies, Great Yawgmoth, that the flesh may welcome your blessings."
So this is my current best guess as to the full translation.
I did not know if the original thread had a special color coordination, so I just used colors that were visually distinct so it was easy to see.
The flavour text is my BEST GUESS, it's quite possible I missed something that just proves that theory false.
This is great, thank you for sharing! I'm relatively new at studying Phyrexian so I can only speculate here: I agree that the first line looks like Great/Grand Father; however it's missing the G glyph present in V^JJZ'Z"THZ'GNx (Phyrexian Scriptures "Father of Machines") & V^JJ'ZZ"| TH'ZGNx (New Phyrexia Video "Machines Father"). Perhaps this is because it's not being modified by its relationship to Machines?
The last line (MvOX*N~xLGLXv) reminds me of MxOX:~NxLFEX: (calls out?) from the All Will be One video; different diacritics but begins with the same 4 primary glyphs.