Understood.
But it still doesn't change the fact that these words are interchangeable in both the vernacular and in Biblical academia. And no such understanding according to your concept exists.
While there is a difference between a Bible translated directly from the original Hebrew and Greek and say, a Bible translated from the Latin, the two are still translations and/or versions. They are just translated from different sources, but translation was still engaged in.
I am not saying they are the same, but I am saying that "version" and "translation" are words that are used interchangeably regardless of the source of the Bible. I believe you are very correct in the quality of a translation being higher when done from the original languages, very correct indeed. But this doesn't change the meaning of the words "version" or " translation," and we cannot change their meaning to suit our views, no matter how correct they may be.
Besides there are times when people require a translation from the Latin or even of the LXX. Both the Latin and the LXX are based on proto-Masoretic texts and are closer to the Dead Sea Scrolls than the best Masoretic texts we have today. A person may wish to study how this pre-Masoretic tradition may have influenced the way texts were cited by New Testament writers or merely compare them with texts from Qumran or Masada. Such versions based on the Vulgate or the Greek Septuagint would still also be translations, also be valuable despite not being from the Masoretic texts or the best extant New Testament witnesses. They are definitely not translations from the original Hebrew and Greek, but translations and versions nevertheless.
Again this doesn't mean that what you are saying is incorrect on what is more accurate, I'm just saying that the words "version" and "translation" don't differentiate between translations the way you saying. There may be a word for this in other languages to show the difference, but version and translation aren't those words in English as they mean the same thing.