Two issues I've found so far:
1) As virus brought this up here, I decided to check how this app handles this. "Lol^^217" is shown as "Lol^17", while in Osavul as "Lol17", in other words, it doesn't escape ^^.
2) More of an issue, "Connect to IRC on startup" doesn't get saved for me, I can tick it, close the Preferences window, and when I open it again, it's still deticked. Needless to say, it doesn't connect to IRC on startup, too
Other than that, it's a great tool. It could refresh the list automatically on start-up (first thing I did after first startup was checking my internet connection as no servers were shown :P )