Now having had some hands-on time with the official chat bubbles I have some additional feedback.
1. As predicted, this feature is not very useful with the two line limit. Messages are cut off the majority of the time which forces you to look at the chat window which in turn defeats the entire point of having chat bubbles to begin with. Please add an option for unlimited text length. This is the most important issue to address.
2. In accordance with #1, please add options for how long the bubbles are displayed before they fade out.
3. This is a nitpick but it would be nice if you could choose your bubble shape and elect to have no bubble color at all for each chat type. Currently you're forced to always have a color on the left corner and use the different shapes and symbols for the other chat types. I would generally prefer to have all chat bubbles look plain to match how the bubbles look for NPCs if it were an option, like this:
Also while on the subject of bubble shape, I understand the intention behind the little symbols on the upper left of the chat bubbles but they really bring down the aesthetics of the bubbles in my opinion and they seem redundant with the option to match bubble colors to text color. If there were an option to remove them it would add some nice customization since people could then mix and match the bubble shapes however they want. I'd be more inclined to use the different shapes if they didn't all have a weird little growth sticking out of them. I actually like the yell and shout ones quite a bit, minus the symbol.
4. The chat bubble colors are much more limited than the text color options, so it's not always possible to match the two if you feel so inclined. I don't want colors at all, but for those who do they should have access to the same color options.
5. You should definitely be able to use them in all content including battles. Everything runs the risk of being abused by jerks, I don't think that's a good enough reason to hold off on the benefits.
Thanks!