For example, your product might have an attribute named “color”. For that attribute, the “terms” would be, for instance, “red”, “green” and “blue”.
When you edit an attribute, you will see multiple input fields for its name. The screenshot below shows two: for English and Russian. If your site has more languages, there will be more fields.
When you edit the terms, you will also see multiple input fields, this time separated into tabs:
The “slug” can also be edited with the help of WPGlobus Plus.
WPGlobus for WooCommerce also has a special admin page where you can see and translate all attributes and terms on one screen:
Note: WooCommerce allows you to create per-product (“custom”) attributes on the Product Edit page. Those attributes cannot be translated. Please avoid using them and create global attributes instead (Products -> Attributes in admin menu).