This looks correct. mIRC v7.1 is displaying the Unicode representation of all of the characters. mIRC v6.35 could not do that because it was not a Unicode application.
This is one of the reasons why mIRC was converted to Unicode, so that the interface would correctly display characters from all languages, instead of displaying the literal UTF-8 encoded text, which is unreadable.
All text in mIRC is now stored as Unicode and is converted to UTF-8 when it is sent to the server. Likewise, when mIRC receives UTF-8 text from the server, it is converted to Unicode.