This was very fun to make, hopefully I can make this into an actual messaging app, or at least something close to one.
Pictochat will only let you type on the 5 lines the canvas fills, you can't move the text or just start typing from where ever, you have to treat it like a notepad. While I can't let you type directly on the canvas like Pictochat does, the "Draw Text" box should emulate it close enough. Plus, now you can erase the text on the canvas.
This font, NDS12, techically contains all of Pictochat's emoticons as ascii characters. I'm not sure there's an easy way to write them, but if you can figure it out then be my guest.
