Mmmh...
Well, basically she's saying the same that the other girls from the Tickling CG Gallery. This one is a bit harder for me to translate, since there are some very small characters wich can't be seen with detail. Anyway, here it is:
"NO...! FORGIVE ME~~ KYAHAHAHA...A-AA~N! IT'S TORTURE H-HA HAA! NOT THERE~! AAHAHAHAHA W-WHY DO YOU DO THIS A HAHAHAHAA I CAN'T BELIEVE IT~HAHAA...EEHEHEHEE...I'LL DIE LAUGHING... YOU PERVERT, STOP!! PLEASE SOMEBODY HELP MEE!~"
About the red characters, I can't tell exactly what the translation would be, but it says something like this "The punished girl. Laughing to death penalty."
I hope it was of some use for you.