No, it doesn't, at least not how I want it.
When someone PM's me, like Hurz for example, sometimes we talk about Darts stuff, so I close chat then, but with Wheat snooper, if I click on Hurz again, it'll still show the conversation we just had, with great snooper it erases it...
Also, when hosting i've noticed, if you change the details, then press enter, it hosts with previous host information, you must actually click on "create game" for it to use new information, that sucks...