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Oh man, I used to have my irssi claim it was Comic Chat. Fun times.
Like other MS tech of the era it was at least lightly into EEE territory, as the client would add stuff to messages that just looked like crap to users of normal IRC clients, similarly to how Outlook users would have seemingly random Js in their text, because Outlook rendered that as a smiley through the power of a Windings font.
But it sure did spawn some memes.