I like this idea, but it have also to be a bit moderated. Same as Coine, I also don't want to see " you're noob ******" popping on my screen.
Blacklisting some words, maybe ?
Cool idea.
Yea, certain words could be blacklisted if necessary and because I imagine the text line would be set in the item like sounds it would be visible and able to be changed by admins/smods if misuse occurs.