I tested this against their MOTD that has some lines with leading spaces in front of the logo. If you don't want the timestamp on those lines while timestamping is enabled, change the -st to -s

Code:
raw 372:*:{
  if (!$regex($parms,\s\s)) { echo 3 -st $3- }
  else {
    var %text $replace($parms,$chr(32),$chr(160)) , %r $regex(junk,$parms,^(\S+)\s+(-))
    var %text2 $mid(%text,$calc(2+$regml(junk,2).pos))
    if (%text2) echo 4 -st %text2
    else echo 2 -st $3-
  }
  haltdef
}