The reason this does not work is most likely because translate.google.com restricts certain types of requests to prevent service overloading. For example, if you use wget without the “-U Mozilla” parameter, you will get HTTP 404 because the service restricts responses from the default wget user agent string.
In your case, it looks like it happens that translate.google.com returns HTTP 404 if the HTTP request is included in the request. When you run wget from the command line, there is no link. When you use an audio tag inside a web page, an HTTP-Referrer is provided when requesting a translation. I just tried the following and got 404.
wget --referer="http://foo.com" -U Mozilla -O /tmp/tts.mp3 "http://translate.google.com/translate_tts?tl=en&q=Welcome+to+our+fantastic+text+to+voice+demonstration
However, if you take the --referer option, it works.
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