This very tentative translation is a work in progress. To produce it Geoffrey Graham was  kind enough to look over the photographs and examine a transcription of the scene from C. De Wit, Les Inscriptions du temple d'Opet a Karnak. What follows is  subject to change as we learn more about the scene.

Over Osiris:
Dd-mdw.w jn 3sjrj Hr.y-jb w3s.t
A recitation by Osiris residing in Thebes

jt.y n.y jp.t Hr.y [Hnk.y.t] m Hw.t wtT=f sovereign of
Luxor upon a bed in the enclosure of his begetting

n.y-sw.t nTr.w sxm.w
King of the powerful gods

r` pw ntf pw r`
He is Re, it is he who is Re!

nbs Szp=f `3.t-nTr q3j mH xmt
zysiphus-wood, it having received the god's gem, three
cubits high

Over Isis:
Dd-mdw.w jn 3s.t wr.t mw.t nTr
A recitation by isis the great, mother of the god

jr.t r` nb.t p.t Hnw.t nTr.w nb.w
the eye of Re, lady of heaven, mistress of all gods

xt nbw q3j mH snw
gilded wood, two cubits high

Behind Isis:
wnn=j m z3 nny sn.t(y) s-wD3 H`.w=k
I shall be in protection, we two sisters who envigorate
your limbs

Above Nephthys:
Dd-mdw.w jn nb.t-Hw.t sn.t nTr
A recitation by Nephthys, sister of the god

jr.t r` nb.t p.t Hnw.t nTr.w nb.w
eye of Re, lady of heaven, mistress of all gods

xt nbw q3j mH snw
gilded wood, two cubits high

Behind Nephthys:
jnk sn.t xwj=j H`.w=k
I am a sister.  I protect your limbs

`.wy Hr s-wD3 D.t=k
with two hands envigorating your person.

Around the Amun-Re Bird:
Dd-mdw.w jn jmn-r` b3 Sps.y n.y 3sjrj
a recitation by Amun-Re, the august Ba of Osiris

Htp Hr X3.t=f m Hw.t msx.t=f
coming to rest upon his body in the enclosure of his

Under the Bed:
hrw pn ng3w w`b m sx.t
On this day of the pure fatted-ox in the field

msj nw.t 3sjrj m-Xn.w n.y pr jp.t wr.t r jmn.t.y.t n pr xnzw Nut gives birth to Osiris in the interior of the
temple of great Opet to the west of the temple of Khonsu

hrw nfr pXr m t3 Dr=f t3 mr-wr
festivity circulates in the entire land, the land of Mnevis

m [???] jmn m Hb nTr.w m [???] xnt.y `y (zp-snw) m
Xnw n.y w3s.t in [???] Amun in the festival of the gods before the [???] (to be repeated) in the interior of

3w.t-jb [zm3] [n] jp3.t-3s.w.t nTr.w.t m Hb Hr Hb
happiness [unites unto] Karnak, and the goddesses are
in festival upon festival

hrw nfr `(3)b.w.t 3sjrj m jp3.t wr jn nTr.w m t3.wy
festivity of offerings of Osiris in Luxor(?) of the prince by the gods in the Two Lands

msj.w.t [b3q] b3=k m s3H.w m p.t rs.y.t the birth of the [brilliance] of your Ba as Orion in the southern sky

sn.t=k nTr.y.t spd.t m z3=k
and your divine sister, Sothis, at your protection

sn.t nTr.y.t Hr s-wD3 D.t=k
the divine sister envigorating your person

b3=k Sps.y m Hr.y X3.t=k nj w3j=f r=k D.t and your
august Ba is above your body and it will never be far
from you

z3 [nTr.t] Hrw Hr s-xr xft.y.w=k
the son of the [goddess], Horus, has overthrown your

t3-Tnn DHwty wn=w m z3
As for Tatjenen and Thoth, they are protecting

[xmnw.y.wy] Hr xwj=k
[the two Hermopolitan ones] are protecting you

jw=k m H`p.y m m3w (zp-snw)
that you might come as the inundation anew (to be

[jnp.y] nfr tp.y rnp.t b3=k grw
perfect [youthful prince], first of the year also over your Ba

t3 grw sxm=k dw3.t `rf.t m Snj twt=k
and also the land which you control and the Duat which
is enclosed in the circuit of your image