this idea is amazing. One of the best i've seen at betalabs.
It made grp chatting really easy. And now there is no need to go online and sign in to do that stuff...
Best thing is, that only 1 user needs to have this app, rest can just join the conversation..!!
Also, the stream thread is cool...
I suggest that you make the ui more intuitive and sexy.
I faced problems with it when, say selecting a friend to add to a grp, like, while just browsing the contact list, i added some ppl by mistake. So, dialogue box like, 'would you like to add akshat mehendale to this conversation??' would be a lot helpful...