Akaviri. The language does look very similar to the glyphs on the Eye of Magnus.
However, if it is in Akaviri, we have no chance at all to translate it. Compare the http://www.uesp.net/wiki/Oblivion:Messenger%27s_Diary to the http://www.uesp.net/wiki/Oblivion:Akaviri_Diary_Translation. I see no tangible connection between the two. In other words, I have no idea how in the word the writing works.
You may find the similarity of glyphs on the Scrolls and the http://www.omniglot.com/writing/magi.htm.
FYI, some other "magical" alphabets:
http://www.megadriel.com/symbols/scripts/angelicalphabets.gif