There's still no translation? wow...
I've skipped pages 6 to 14, so excuse me if I'm repeating something.
Spoiler tag, just to be sure!
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Technically, it wouldn't matter to the plot that much if Fai died. Chii or Ashura could still explain his background. HOWEVER, Clamp wouldn't kill Fai off, because:
1: The gang travelled without Fai would just look... odd.
2: All the KuroxFai fans would be pissed. Clamp wouldn't do that to 'm.
3: Fai wouldn't get killed that easily. Remember what he said when he and Kurogane were fighting... Kiishimu or whatever her name is? He can't die yet. Just like Syaoran, he seems to have some sort of mission.
However, losing an eye is a pretty big problem. I'm thinkin'... The gang will find a way to get Syaoran back to normal, flee to the next world, contact Yuuko, and get some answers. Then, Yuuko will offer some way to replace Fai's eye, and perhaps suggest that 'sharing an eye' thing. Kurogane will volunteer, because he's feeling guilty, and because he secretly loves Fai. *nod nod*
However, there is the problem that a price has to be paid. And what's most precious to Kurogane and/or Fai? Their relationship? Or perhaps... Kurogane's chance to get revenge on Fei Wong, and Fai's refusal to go home. If Yuuko takes that, it'll turn the plot very interesting. Kurogane couldn't get near Fei Wong, and the gang can arrive in Ceres/Celes country at any time.
... Phew.