Near the end of level 6, Lil has an unusal customer, whom You might not completely understand. (More unusual than most, that is.) That's not a big problem, since the situation is pretty readable anyway and options are few. But perhaps You were still wondering, if there were any clever jokes hidden.

Short answer to that: Only one line of the "hidden" text is mildly funny, if at all. In my opinion, You don't miss anything here without knowing latin.
Longer answer: I wanted to share my translation here. But then I noticed that I had cut my foot earlier and my boot was filling up with blood. So I went off to gamble at the arena and had my 12-year-old daughter translate the text for me. Therefore, as You can imagine, the translation is not all that elaborate. Feel free to offer better interpretations, if You know such.

Monologue
(I obviously skip the lines, that are already translated.)
"You are a guest in my realm. Didn't You bring the usual present? The offering of a goat is demanded here, if You want to avoid death."
"Just because You're a child, You are not safe from wrath. You have only little time, before I devour You."
"I'm not kidding. I would have done something by now, if I were You. I am a demon* and (something) my kind (something)**, I will kill helpless humans like You.
(*Might as well read "the devil". There is no real telling "a" from "the" here.)
(**Couldn't make sense of the word cisio. Might be an ablative construction, but I didn't grasp the meaning here.)
"Should I count from ten, before I kill You? Alright then. Ten, nine, eight, seven..."
"Six, five, four, three..."
"*Sigh* Two and a half, two, one and a half, one..."
(That's were I left in my first playthrough. Clearly, the conversation doesn't get more interesting from here on in.)

Epilogue
"The demon had never seen a creature like the lil' guardsman, who had on that day appeared in clear sight. He couldn't understand a word she was saying, but finally she disappeared for a long time.*** He could do without any such experience, if were being honest.
He was having a bad day and it certainly didn't get any better by being interrupted by some girl. The nerve (of some people)."
(***I found this sentence a bit tricky. The verbs are not assigned to either the demon or Lil. It could very well be, that "she didn't understand a word he was saying". I thougt the constellation above more fitting, although Lil doesn't even talk to him.)

He has another short appearance later. I forgot, when exactly. It's only one sentence:
"Again? Where the hell am I?"

I thought I was the only one offering to shed a little light on the mysterious latin text, here in the steam-guides. But now I've seen another translation in a walkthrough-guide. Oh well. I have already written it, might as well upload it anyway.
In fact, I translated this from latin into german and then into english. Not that it makes a big difference, though. Doesn't change the fact, that I was a little bit disappointed by how the demon only says stuff, one would expect of him, and nothing especially witty.

Anyway. I hope this helps Your Lil not to freak out.