Chat Console
The Chat Console, pulled up by going to Tools -> Console, is mostly a debugging tool for Magenta, and possibly something that the advanced chatter may be interested in.
What it does is print every packet that Magenta recieves from the server to its window. Every packet. They are unparsed, as well. You can use this to verify that everything that Magenta shows you is correct, or for anything else you may have to log packets for, such as loading it into a custom statistics program.
Note that private messages sent by you to somebody do not appear in the chat console; this is simply something that just happens, I'm afraid, and since the console reflects the actual traffic coming from the server, this will not be changed. For some reason, the server does not echo these; the echo you get on your screen is done entirely by Magenta.
Save a plain text log of the Chat Console contents using Save, or clear the console with Clear. Each clear is timestamped, as well. Close the console with Close.