In this paper we explore the potential and limitations of a concept of building a bilingual valency lexicon based on the alignment of nodes in a parallel treebank. Our aim is to build an electronic CzechEnglish Valency Lexicon by collecting equivalences from bilingual treebank data and storing them in two already existing electronic valency lexicons, PDT-VALLEX and Engvallex. For this task a special annotation interface has been built upon the TrEd editor, allowing quick and easy collecting of frame equivalences in either of the source lexicons. The issues questioning the annotation practice encountered during the first months of annotation include limitations of technical character, theory-dependent limitations and limitations concerning the achievable degree of quality of human annotation. The issues of special interest for both linguists and MT specialists involved in the project include linguistically motivated non-balance between the frame equivalents, either in number or in type...