Shoutbox

Take a look at the iTunes Multi-Plugin.

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Multi-Plugin:
Skins iTunes's Titlebar (Graphics by susumu!)
Copies the name of the current song to the clipboard
Creates a file with the current song info
Changes iTunes's window caption to "Artist - Song - iTunes" format
Minimize To Tray (it takes a LOT less memory when in tray than iTunes's own Minimize To Tray feature)
Control when iTunes will be Always-On-Top or not shown in the taskbar
Makes programs recognize iTunes as if it were Winamp
Makes ObjectBar recognize iTunes's menu (it doesn't work very well since the menus got changed in 4.7 :/)
Makes multimedia keys work when iTunes is not active (in some keyboards they work anyway, but in mine they didn't so i made this feature )
Integration with EvilLyrics for finding a song's lyrics

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Just enable that option and then the (!WAT) tag will work normally.