i think you should be able to nest multiple lines within such a 'table cell' by enclosing it between form feed and vertical tab, which are both conventionally considered whitespace, and are therefore allowed already in the grammars of conventional free-form languages like c, java, js, and scheme. nesting tables within table cells permits almost infinitely flexible layouts, as we all remember from the days before css; and, although the layout algorithm is not as trivial as emulating a teletype, it's fairly simple, linear time, and very fast (as long as you don't try to add word wrap or something)
(you probably also want rowspan and colspan; these should be indicated by putting carriage return and backspace, respectively, in the cells spanned into, like \^ in tbl)
a 'terminal emulator' using such a format would probably need an alternative to character-cell cursor addressing; probably the best alternative is to have multiple cursors, with one escape sequence to move cursor X to the active cursor (forgetting its previous position) and another escape sequence to exchange the active cursor with cursor X
there's no need for escape sequences to look like line noise either
further details are in nestable.md in
git clone http://canonical.org/~kragen/sw/pavnotes2.git