Here's a list of pages with translated knitting terms, not all of them may have german.

http://www.geocities.com/barbie42day/translate.html
http://www.tricotin.com/dico.htm
http://www.craftster.org/forum/index.php?topic=129918.0
http://www.wiseneedle.com/glossary.asp
http://www.knittingfool.com/pages/LanguageDictionary.guest.cfm?alpha=a&CFID=12678501&CFTOKEN=75380783
http://www.ravelry.com/wiki/pages/Fiber_In_Other_Languages
http://www.garnstudio.com/lang/en/ordliste.php
http://www.vogueknitting.com/magazine/article_archive/parlez-vous_knitting.aspx

The abwechseld might mean 'around' - ab may mean repeat, so - repeat around?

In another forum someone posted a hat they'd made using cable and twist patterns from a book, Twisted-Stitch Knitting. Here's the link to the thread - http://www.knittinghelp.com/forum/showthread.php?t=110386 - I thought of you when I saw it, looks a little like something you're trying for. Here's her ravelry page for it with more photos - http://www.ravelry.com/projects/JoodieKadoodie/twisted-stitch-sampler-hat

Hopefully you can find the book, maybe in a library to look over first.

I have a suggestion for you to try. Knit a 'plain' WS row with no twist stitches and only do the twists on the RS rows. Just work the sts as they appear on the WS - knit the knits and purl the purls. Try that and see if it works better, most cable or twist patterns don't do them on every row.

I saved the picture and rotated it. You don't have the same number of sts on the right edge of the twists, or you're not working them the same. I think you need another kp set there.

Okay good; I can read stitches better than charts.

Sorry, that doesn't help much; I can't read cable charts well and colors make it even worse. But it does answer a couple of questions...

What's the problem you're having with it - doesn't it work out the way you'd like it to?

Are there just 2 sts in the 'cable' or twist? Your first row doesn't have enough sts in it if that's the case, there's only 13 sts - p3, cn in front p1, k1 off cn, cn in front, p1, k1 off cn, k1,cn in back, p1, k1, p3, turn - or did you forget to put in another twist? And are you doing them on every row? That may be the problem, you might need a plain 'ribbed' row (knit the sts as they appear) in between them.

No 17 times is correct; it was originally written 19 times, but that's wrong.

You're not the first to think that ssk is slip 2 sts and knit the next one. It's slip 2 sts knitwise and knit them together.

Make sure you're reading the correct repeat instructions for your size all the way through; it's easy to 'jump' and end up working another size instead. I do see that you must have found the errata that says for the M, work rows 10 and 11, 17 times instead of 19 times.

As for ending up with more stitches, how are you getting them? The lace pattern has YOs which increase a stitch, but there's a decrease which keeps the number the same. SSK is a decrease, similar to sl 1, k1 psso, but done differently. There's a sk2p, which is slip 1, k2tog, psso in row 4 of panel 1 and row 2 of panel 2 and also a k3tog in row 2, panel 2. The increases are offset by the decreases and the stitch number stays the same. On row 4, panel 2 has 4 YOs and only 2 decs, but row 6 has 4 YOs and 6 decs so that evens it out. Check to make sure you're not doing too many YOs, or doing a single dec instead of a double dec, or forgetting a  dec or two.

Two strands of worsted is about a super bulky so the same as T&Q, but you'd need to knit that on 15s or something, whatever the pattern calls for. It would also be warm and heavy. If you just do a single strand on size 9 or 10s you'll have a very nice lightweight shrug.