Is it possible to increase or remove the edit time limit on comments in chat?
I think that 120 seconds is a bit of a short period in order to correct any typos or errors.
Many of the chat rooms, including the Chat Feedback room are left for several hours or days before people respond to comments, the argument that all the rooms are used for real time communication, and that everything should be geared thus is moot in the light of this observation.
If a comment is edited after others post, it may cause bad continuity - however there's a history feature on all edited comments for just this sort of reason, bad continuity is not a good argument for the limit when this feature is available.
Some users have conditions or disabilities that impede how quickly they can type or operate a computer, most people have the ability and privilege to edit comments in good time, but for those who do not, they have to put up with another reminder that they can't keep up with other people's time standards.
Obviously, the ability to edit comments in chat is an important feature, I believe it is one of the features that sets stack exchange apart from the other chat servers making it a better place to chat. On the other hand, I believe that the 120 second edit limit does not enrich chat.
I'm yet to hear a good reason for this time limit - If anyone knows of a good reason why things are done like this, please let me know.
If, on the other hand, there are not good reasons for this feature, then I boldly suggest than it be removed altogether, allowing people an unlimited time to edit their comments.