Last year, I was knitting Nieblings and other German patterns and I put together a list of translated terms. I've saved the dictionary as a pdf file on Google Docs. For anyone interested in about 400 German knitting terms and phrases, the pdf can be found here. It was compiled from multiple sources online and in print. I can't vouch for the complete accuracy since I don't speak German, but I welcome any corrections in the comments.
German - English Dictionary of Knitting Terminology