Private chat like Facebook gives you

togethernet Inactive
Just Getting Started

Chat works great but seems to be very public - unlike e.g. facebook where you can click on a friend's avatar and chat directly with them. Is this possible on a BuddyPress site with this chat plug-in?
Also what happens to all the chat logs - who gets to delete them? Can they be labelled with a name e.g. you could have a master class Q&A session that members could access later - but it would help to be able to give it a meaningful name.