Tools > options > personal > format codes
^ To change you name.
Select a code colour, right click the contact you want to edit, find 'edit contact'. Edit nickname. Put the code colour then put his/her name between the code e.g [c=4] There nick here [/c]
Edit: Download this makes name making much easier.
http://www.msgpluslive.net/scripts/view/276-NameEditor/
/ 
