A plot of any kind is rare in a puzzle game, y'know. ^^ My point of view is, if it's enough to make me fall in love with these fairies and get me engaged in their world (and it is), then it doesn't really matter how vanilla or cliché it is.
I've played both the fan translation and the original Japanese versions of the game (it's good practice if you're learning the language since it's not very complicated Japanese), and I can tell you that it seems the fan translation took some liberties with its script in some places. Quick example of the Vs. mode intro: Lip's Japanese dialogue is basically the same as what Yoshi says in Tetris Attack, except without the mention of having figured out how to reverse the spell. The fan translation, IIRC, rewrites this part to be less "my friends have been cursed!" and more "my friends have been cursed!" Less "My friends are in trouble, I've gotta save them!" and more "I can't believe this happened to my friends..." It comes off as sort of melodramatic to me, and it sort of messes with Lip's plucky character, but what are you gonna do.
On that note, Sherbet, Thanatos, and Cordelia are all acceptable, but I know "Selene" as a Romanization of セレン is a bit wrong since that would be セレーネ. The official translation of Seren is more accurate here, although it could also be "Selen" since her name is also a Japanese abbreviation for selenium.
Aw Hong, I like them all, don't make me choose D:
...OK, I'll just list them in order, starting with my favorite:
1. Lip
2. Flare
3. Elias
4. Windy
5. Thiana
6. Neris
7. Sherbet
8. Seren
9. Ruby