Notice former pupil translated verse (7)
I believe the answer is:
observe
'notice' is the definition.
(synonyms)
'former pupil translated verse' is the wordplay.
'former pupil' becomes 'OB' (abbreviation for 'Old Boy').
'translated' indicates anagramming the letters.
'verse' is an anagram of 'serve'.
'ob'+'serve'='OBSERVE'
(Other definitions for observe that I've seen before include "Espy" , "Mark" , "Notice or conform to, rules say" , "Watch, take note of" , "Obverse (anag.)" .)