IrCQnet at the time of writing runs Unreal 3.2.1 you can always find the latest version by typing:

/quote version 

To do color on the site, hit and hold ALT then press 03 on the number pad on the right, then let go, and type: 0 for white

• 1 for black
• 2 for dark blue
• 3 for dark green
• 4 for red
• 5 for brown
• 6 for purple
• 7 for orange
• 8 for yellow
• 9 for bright green
• 10 for teal
• 11 for bright blue
• 12 for blue
• 13 for pink
• 14 for dark grey
• 15 for light grey

also in stead of 003 you can type 002 = bold and 031 = underline.  

Credits to ReBBie