Yes, and a good place to start might be the Doom9 Subtitles forum here . There is also a Guides area there IIRC.
Re-doing subtitles is possible, but non-trivial as apparently ST streams are bitmaps. Thus, you first have to extract and do an optical character recognition scan of them. But there seem to be lots of tools for doing this.
I did one project myself where I extracted the subtitles of a DVD, deleted a bunch of lines and re-did a good number of others. Would have to check my notes for the programs I used and the process I followed. Maybe tomorrow...
EDIT: Ok the basic process I used was:
1. Demux using DVDDecrypter or PgcDemux
2. ID chapters using PgcDemux (celltimes.txt) for later re-multiplexing
3. Convert .SUB file to .srt using VSRip or AutoGK
4. Use Word (if editing the text) and Subtitle Creator so make .sup file
5. Re-mux the DVD using Muxman
6. Copy/paste colors (if wrong) using IfoEdit
I don't know if this is what you guys want/need to do, but it should give you some ideas anyway...
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