The chat has been updated to a new IRC applet (can be accessed with common IRC programs as well). This one should be faster, more stable, more populated, and supported by more browsers. Why don't you go ahead and check it out? The thanks would go to Kimojuno for this great applet and service.
The link is in the same place as the old chat.
Enjoy!
P.S. - I know that some will be wondering, unless you're using a program such as mIRC you should use /me to emote instead.
An example would be /me baps Kimo
Would come out as "Cspace baps Kimo" 
(I'll add it to the command list later)