Generally speaking is there anything I need to keep in mind when deciding where to place a voltage translator component (e.g. the SN74AXC family)? Should it be placed closer to the lower voltage-net ICs, with the idea that they are less tolerant of voltage droop? Should it be placed close to the driver ICs?
Hi,
There is usually nothing like that to keep in mind as long as you are not noticing large voltage droops on your supplies. Typically you expect around 5% voltage droops on the supplies however having a bypass cap helps with noise on your supply. I would just recommend that you place the device you are driving with the AXC close by to avoid long transmission line effects.
We have this old designing with logic guidebook: 
Some of its content regarding parts might be a bit outdated but the general concepts are still relevant.
Thanks!
-Karan
