After a lot of discussion in my gaming group and on the Swedish forum at www.rollspel.nu (more specifically here), we've arrived at a translation of the key phrases that we're pretty satisfied with. It would be fun if other groups would use the same translations. If nothing else, it would make playing with new people, for example at conventions, easier.

Long ago, the people were dying at the end of the world :: Det var en gång ett land vid världens ände där folket gick mot sin undergång

But hope was not yet lost, for n_ still heared the song of the stars :: Men hoppet var ännu inte ute, ty n_ hörde alltjämt stjärnornas sång

And so it was… :: Och så kom det sig…

But that all happened long ago, and now there are none who remember it :: Men allt detta hände för länge sedan, och ingen kan längre minnas det

But only if… :: Men bara om…

And furthermore… :: Och dessutom…

It shall not come to pass :: Det skall icke ske

You ask far too much :: Du begär alltför mycket

It was not meant to be :: Men ödet ville annorlunda

And that was how it happened :: Och det var så det skedde

But it was no matter :: Men det saknade betydelse

We shall see what comes of it :: Vi ska se vad det leder till

Cool!  Thank you very much!

Regarding this phrase
Long ago, the people were dying at the end of the world

What does this "the end of the world" mean?

"the end of the world"  as you cant go any further in that direction
or
"the end of the world " as it will stop existing
or
both of the above?

In English, it is ambiguous.

Danish translations can be found here: http://spilnu.wikidot.com/spil:polaris

Long ago, the people were dying at the end of the world :: For længe siden døde folket ved verdens ende.

"verdens ende" is ambiguous in Danish as well.