Hi, packagedeal - you may want to check out
McAfee - Privacy Service - it allows you to limit where and when your child can go on the internet, it also monitors and logs what they do. It also says it monitors chat sessions, but I am unsure as to whether it logs them too.
They have a
30-day free trial which you can download.
I'm sure there are other programs, and other solutions, but I think this is probably the easiest and most hassle-free.
Regarding msgplus, I assumed that it could not be installed under a limited account. Am I mistaken here?