Problem:
iNet2 Chat "Couldn't Create The Mailslot Handle"

Solution:
This message is usually caused when you attempt to start iNet2 Chat and it is already running, or when iNet2 Chat is not properly exited, or when another program is using iNet2 Chat's Mailslot for chatting.

Try exiting that program or restarting your machine.

This problem is due to the design of Microsoft Networking, and I am unable to change that.