[Snake]

After re-reading what Shujin typed up there, it seems to be so. And he's right, when you are typing a lengthy emote you can't read what you typed when you go past the first line and the text bar/box starts swallowing and leaving it behind as if you're using a typewritter. So, currently and like this, you can't correct typos, or re-write things easier.
The formatting (if you mean, 'if line-breaking with enter, your text will automatically become two paragraphs') won't be necessary, I guess.

That might be it, Dev.