Hi Easton
You can rename it as you wish via admin panel->Languages.
Found the lang key with value "online now"
I renamed mine to Private Chat now. That works great. On my site, chat is used more than anything else. The problem is that Chat doesn't work that well. It should say when someone is typing. It should start a new line when the next person hits enter. It should have a time stamp on it. Most other IM's have this. Our chat will string lines together and you don't know what is going on. Anybody else seen this. All my members complain about it and want all members to use another chat outside my site.