Transliterate text in posts and pages from Serbian Cyrillic to Latin script. Visitor can select output script from widget.
WP Translit threat only Serbian Cyrillic characters in text and transliterate it to Serbian Latin characters. IF you need support for other Cyrillic languages, contact me.
No. WP Translit does not transliterate from Latin to Cyrillic script. That is not even planned to be implemented (it's not impossible, so you can Request a quote and I'll develop that functionality for you).
WP Translit page in Serbian Cyrillic is placed at DevYard.