Final answer:
The movement of the bound aminoacyl-tRNA from the 2'OH to the 3'OH on the tRNA molecule by class I aaRS is called rearrangement, not to be confused with translocation, which is the ribosome movement along mRNA.
Step-by-step explanation:
In the context of aminoacyl-tRNA synthetases (aaRS), specifically class I aaRS, the movement of the bound aminoacyl-tRNA from the 2'OH to the 3'OH on the tRNA molecule is referred to as a rearrangement. This process occurs as part of the tRNA charging step during which the amino acid is transferred to the tRNA, eventually to be used for protein synthesis during translation. It's important to note that translocation, as defined in your question, refers to a different step in the protein synthesis process, which is the movement of the ribosome along the mRNA and requires elongation factor-G. Similarly, editing and proofreading are quality control steps carried out by aaRS to ensure the correct amino acid is bound to its corresponding tRNA, thereby preventing errors in the translation process.