Re: Wow, this is dangerous...
mIRC* and ICQ and the like shouldn't parse those as URLs. The only way this seems to be any use at all is if you go to a webpage with a link on it (though if you're on a reputable site there's not going to be an issue), or you get a link via an email (which would be parsed out on Hotmail I guess, haven't tried but since they htmlify every link it seems logical).
I don't see the big deal.
* mIRC shows you a square box in place of the 0x01, so you'd know something was up straight away.
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