Well, my idea was to have one thread per episode (that is, between 20 to 50 pages of the manga, it depends on the episode; we are in the middle of episode 3 currently).
In that episode thread, the first message would be a wiki (so, editable by all).
Then, each time a new “part” thread is created, the first message of the “episode” thread is modified, to put a link to the new part.
The first message of the “part” don’t need to be editable, just a picture of the two-page with letters;
and people can start taking and analyzing texts;
Then when the whole two-pages of the manga are done, someone posts a new message, with a picture of the next two-pages, and their letters (that is why I think page+letter would be better when claiming/creating an interpretation).
And he would also edit the 1st message of the “episode” thread, to change the link to the current reading page (which would be some post under the “part” thread).
Someone (or the same person) could also update the wiki message of the “episode” to put all the summaries (japanese sentences + interpretations, with a link to the proper post explaining it).
Mmmh, actually the “episode” thing could be a wiki-post inside of a thread devoted to the whole manga.
Particularly interesting explanations could also be directly linked from the “episode” post.
It could look like this: