You can admin the chat system clicking the chat link from the admin section of the application menu. The chat administration screen is similar to the following one:
You can create/edit/remove chat channels using this screen, you can also activate/deactivate chat channels if you want. The important item here is the refresh rate, the refresh rate indicates how often will the user browser poll your site for chat messages and it can be different for each channel. A very low refresh rate makes the chat real-time since messages appear inmediately after a user types the message but will also make a lot of requests to your web server. You have to find the proper refresh rate depending on the performance of your web server and the commodity of your users.