The difference is : In Translocation, 2 homologous DNA sequences cross over.Translocations happen between nonhomologous parts of a chromosome but cross overs happen between homologous parts. Translocation events are mutations where pieces of DNA jump into new locations. To sum it up, Translocation is a mutation while crossing over is a normal way of recombining alleles
Both: occur in meiosis and are very similar results of reproduction.