Came here to say this. It's entertaining to watch everyone commenting burst into laughter as the screen fills with w's.
In addition to their overlaid streaming comments on videos (think youtube) and live streams (justin.tv/twitch, etc) they actually have a section for live tv[1].
Thanks for the link. Now I have to brush up on my non-existant Japanese skills.
That's great input. We were not aware of that site and feature. We have come across a few similar concepts, which were either split-screen for online video (as I understand niconico works) or not conversations (if they were 2nd screen).