Riamus, read the *entire* article. And it's not CNTRL-K it's CNTRL-C as CNTRL-K with mIRC inserts a ^C not a ^K. And Ircle introduced it's standard before mIRC supported rich text. Khaled originally agreed to use Ircle's standard but for some reason didn't. And this made developers pretty furious. And since 1996, Khaled hasn't changed his color system at all, despite numerous recommendations.
Do you really expect Khaled to change it now? To do anything about it now? 15 years this debate has gone on, and nothing has changed.
Colors have become the bane of IRC. No one likes them. Whose to blame for this is anyone's guess.