The software converts Colloquy transcripts to simple text files.
One of the great things about this app is that it preserves the folder structure of your transcripts, so you don't have to worry about organizing them again. The new plain text transcripts are placed in ~/Documents/Plaintext Logs/, while the original transcripts are left in their original location in Colloquy Transcripts.
If you run TranscriptConverter.app more than once, it will automatically backup the converted transcripts to a .zip archive named Log-date-time.zip. This is a great feature for ensuring that your transcripts are always safe and secure.
Another tool I found useful is DragAndDropTranslater. This application is called that for a reason; it allows you to simply drag and drop transcript files onto the application, and it will convert them for you. It creates a new plain text version of the transcript in the same folder with the name transcriptname.txt. However, be aware that it will overwrite existing files if there is a conflict.
The installation process for these tools is straightforward. First, unzip the file and move it to ~/Library/Application Support/Colloquy/PlugIns/. If this folder doesn't exist, create it. If it's your first time installing the plugin, go to Colloquy and type /reload plugins. If it's an update or the script fails to load, simply relaunch Colloquy.
Overall, I found these two tools to be very useful for managing and converting transcripts. The ease of use and ability to preserve folder structure make TranscriptConverter.app a must-have for anyone regularly dealing with transcripts, while DragAndDropTranslater is a handy tool for quickly converting specific files.