They had this sort of thing in a mud I played in.  It would save bother of tuning a radio to someone on the roster and switching it back, in order to private someone.
Busher types:
          .private Thrawn Hi.
Thrawn recieives as a private message:
          Busher: Hi.
Thrawn types:
          .reply How are you doing?
Busher recieves as a private message: 
          Thrawn: How are you doing?
Busher types:
          .reply Pretty good.
Thrawn recieves as a private message:
          Busher: Pretty good.