1.3 - Translucent Light Mode

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If a Translucent Material is set to Default Lit, there are 3 more options available to adjust how the shader gets lit.

Translucent Lighting Mode Description
Volumetric Non Directional The mesh is lit as if it were being used to create a volumetric effect like smoke. Only diffuse lighting will be displayed and the normal is not used. This is the cheapest form of lit translucency.
Volumetric Directional The mesh is lit as if it were being used to create a volumetric effect like smoke, but with a normal that affects the lighting. Only diffuse lighting will be displayed.
Surface It is lit and receives a reflection, but the reflection is limited and not as good as on Opaque material. It simply picks the nearest Reflection Capture Actor and applies it to the entire object.