on the other end, the client parse the text
and echo < $+ %modified_nick $+ > $+ stripped-hidden-prefix-text
it's a solution without modifying the ircserver and mirc
but it's off topic

i just mention a bot that handle virtual nick, store info in text
and parse text to "modify" the nick just for display
it can't put colored nick in nicklist, cos mIRC don't allow it