I dont think using a timer would work. Hes after intercepting PRIVMSG before mirc interprets them and he wants to do it in pre 6.12, so I think with some level of certianty i can say hes trying to block the v6-6.11 exploit, which , he cant do, if using a timer, the PRIVMSG will be processed directly after the debug window text is sent to it, i have tried using a timer down at 1 microsecond and the text is still beating it.

If how ever he isnt trying to stop the exploit and just wants to process the debug window in some way, i would suggest this..
Code:
Debug.Processor {
  window -hn @Hidden.Debug.Window
  debug -tn @Hidden.Debug.Window
  timer.Hidden.Debug.Window.Timer -omh 0 1 Hidden.Debug.Window.Timer.Event
}

Hidden.Debug.Window.Timer.Event {
  if ($line(@Hidden.Debug.Window,0) > 0) {
    while ($line(@Hidden.Debug.Window,0) > 0) {
      ;
      ; Do what ever you want here the debug line your checking is $line(@hidden.debug.window,1)
      ;
      dline @Hidden.Debug.Window 1
    }
  }
}


This way every line can be proccessed , as even at 1 microsecond, mirc still sometimes sends multiple lines to the debug window.

PS This wont process things before the mirc events sorry.
That the domain of v6.1+ and the -i switch. (i think its 6.1)